CASHe: Providing Best -in - Class Digital Credit Solutions to Young Salaried Millennials

Ketan Patel, CEO

The growth of the Indian fintech industry in the last decade has been phenomenal. Fintech is transforming the financial services industry and will continue to do so as the industry makes the shift to fostering innovation. With a large percentage of young, under banked population, India is witnessing a high growth of digital penetration, thus making it an exciting space for Fintech companies to flourish.

Fintech products improve the ease with which people make cross border remittances, increase the number of data points used to make loan decisions, automate regulatory functions, cut down the cost and many more. Providing smart digital financial services on a technology platform, CASHe, a fintech company headquartered in Mumbai, offers salaried millennials quick and easy personal loans through processes that are transparent, innovative and tuned to the times. CASHe is a cutting-edge fintech product which is powered by its propriety artificial intelligence-based predictive algorithm called the ‘Social Loan Quotient’(SLQ), India's first social behavior-based credit rating system. SLQ is a fast, unique and a path-breaking real time platform which leverages big data analytics, Artificial Intelligence and predictive tools.

CASHe provides instant personal loans based on the client’s social profile, digital footprint, merit and earning potential. It is a new-age digital lending company which basically lends through its sophisticated algorithms. The mathematical algorithm finds out the risk of a borrower
based on his social and mobile data footprints. It examines the user’s phone usage and all data that is available in the public domain. Its model goes beyond traditional credit risk metrics and assesses the “goodness quotient” of the borrower and the ability to repay. Hence, the company lends to young salaried people who are either near prime or subprime borrowers with or without prior credit history.

"CASHe provides instant personal loans based on the client’s social profile, digital footprint, merit and earning potential"

“We commenced operations in 2016 by providing short duration loans which was completely digital. The entire loan seeking process is on the app where there is no physical verification. So, from the time someone downloaded the app for a loan, the borrower gets the money in their account in under 10 minutes, entirely seamlessly”, claims Ketan Patel, CEO of CASHe. Through its simple, seamless and swift process, the customer can register on the CASHe app through their social media profiles. To request for a loan, the customer must fill the application form and upload the necessary KYC documents and choose the loan amount based on their eligibility.

The instant short term loan provider has given loans in all the states and union territories of India and is planning to move in insurance sec¬tor which will be operational in two weeks. CASHe is also moving in wealth management sector where the company will help salaried clients to invest in small savings for their future benefits. Apart from this, CASHe will provide loans to self employed professionals which are untouched by any industry. In the following 2 years, CASHe intends to expand their financial assistance by sanctioning loans to dentists, doctors, engineers who have small business but are unable to take loan.

In just three years of its operation, CASHe has got over 2 million millennials who have downloaded the app. Over 180,000 customers have approached it for loans and it has given loans to over 70,000 of them. Over 75 percent of these people come back to the platform for repeat loans. That makes the company one of the fastest fintech lending companies in India in this segment.