IDFC Bank has collaborated with fintech startup IndiaLends to enable first time borrowers who do not have a credit history to take loans. It is a differentiated personal loan solution which will offer instant loans approvals through a completely digitized process to first time borrowers.
Presently, borrowers with no established credit history find it difficult and time consuming to secure a loan. This unique personal loan solution will enable this segment to access funds more easily. The loan requests by salaried applicants without credit history will now be processed on a real time basis.
IDFC Bank --a subsidiary of India’s leading integrated infrastructure finance company. IDFC has successfully implemented Intellect Design Arena’s Global Transaction Banking (IGTB) solution suite. This combined digital solution by the company will play a key role in IDFC Bank's growth plans, as it seeks to introduce a differentiated form of banking.