Steady growth of LoanAdda
LoanAdda uses technology as a means to create value in the financial market. It uses big data analytics and artificial intelligence to connect borrowers to an appropriately matched lender, using a personalized approach at each step to simplify the consumer experience. LoanSwift (LoanAdda’s proprietary software) is based on AGILE methodology which has built in modules and can take more than 2,000 data points including both traditional and non-traditional parameters.
Due to LoanAdda’s focus on new to banking sectors, the company revolutionized the industry by having 4 consecutive years of fully profitable business model. The company works on a Co – lending model using its proprietary software LoanSwift to underwrite loans and provide First Loss Deficit Guarantee to its partner NBFCs / Banks. Today origination alongwith evaluation of the borrower in real time digitally is key to a higher conversion ratios and hence lower cost per lead. A combination of Technology and execution skills makes LoanAdda stand out for its business model.
With over of 17 years of experience in sectors ranging from Banking, Consulting, Retail and Venture Capital, Anshuman Mishra, the brain behind this brand LoanAdda’s CEO says Anshuman Mishra says, "Technology is an enabler to service the customer needs of getting access to credit in the first place, pricing it based on risk adjusted return on capital and a multivariate digital model of evaluating a customer’s digital footprint combined with last mile connect with the consumer”.
“LoanSwift doubles itself as a CRM, front end face of website and app, credit underwriting algorithm to enhance the probability of a customer landing on its site for a loan enquiry “. LoanSwift analyzes vast amounts of non-traditional credit data to increase loan approval rates and reduce the risk of credit decisions, particularly for millennial who are mostly accessing credit for the first time. It is the only machine learning platform developed specifically for credit underwriting. The platform uses an algorithm to analyze data points to provide a better understanding of all potential borrowers. It reduces the risk of credit decisions.
LoanAdda is an online leading aggregator of financial products and services. It algorithmically stratifies lenders with borrowers in the bottom of the pyramid. Being a financial technology company, we enhance the probability of loan for under banked consumers by filtering customer data points with lender’s parameters and finds the right fit.
Noida sector 16 , 201301
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