Loan disbursal time for SMEs reduced from 7 days to less than 60 minutes

New Delhi [India] July 30 (ANI/NewsVoir): U GRO Capital Limited, India's leading technology-focused, small business lending platform has partnered with a Fintech leader, Decimal Technologies, to process SME loan applications in under 60 minutes.
It is an innovative system created by Decimal Technologies, making U GRO Capital the country's first lending platform to offer a completely paperless Borrowing Experience. The technology facilitates processing of loan applications received for both secured and unsecured loans and extends to the disbursement process as well.
This path breaking initiative by U GRO Capital is in line with Prime Minister Narendra Modi's Digital India Campaign, which is set to transform the entire BFSI industry by making process digital and hence real-time.
The Digital Loan Orientation System (DLOS) has been architected, designed and developed from scratch by the Fintech Leader using its in-house platform Vahana, in record time. Vahana is a revolutionary 'No Code' Digital Asset Management Platform developed by Decimal to build and manage digital assets for enterprises. The USP of Vahana lies in its product development lifecycle which comprises of 3 simple steps - Discover, Configure and Test, making it seamless and highly efficient.
Built with the motto 'Create while you Ideate', Vahana Cloud Platform helps businesses design an application, integrate it with core systems as well as APIs and create end-to-end business solutions on a real time basis. With a robust underlying product-line, this platform helps rollout business innovations from mind to market much faster while allowing ongoing improvisation.
"At U GRO, our mission is 'Solve the Unsolved' Small Business Credit Needs. We believe that the problem of small businesses can be solved by building deep expertise around the key SME sectors in India coupled with an advanced technology platform. This Digital LOS tool built by our partner Decimal is aligned to this mission and tailor made to resolve loan disbursement related inefficiencies. We are confident this DLOS is going to take our problem-solving ability several notches higher and will create measurable impact in the SME ecosystem", said Shachindra Nath, Executive Chairman, U GRO Capital.
U GRO Capital caters to specific SME sectors by using advanced knowledge of 8 sectors and 37 sub-sectors to create insightful loan products for each sub-sector. The Digital LOS uses a unique combination of intelligence and technology by applying sector specific statistical predictive modelling combined with data from over 25 financial and non-financial sources to understand the credit worthiness and eligibility of a customer.
To bridge the credit gap for SMEs operating across 8 high potential sectors such as auto components, chemicals, education, electrical equipment a components, food processing and FMCG, hospitality, healthcare and light engineering, the company has built a strong platform based on sector wise knowledge that will be supplemented by a fully integrated technology and analytics platform.
"At Decimal Technologies, we are committed to the complete digitalization of the BFSI industry. We want to be the technology partners for all financial institutions as they transition from manual to digital processes and help them create solutions beyond boundaries of standard products and huge pains and efforts of bespoke development. Our ultimate objective is to alleviate the pain points of businesses while making the experience of end users efficient and hassle free. Our solutions are at the heart of award-winning applications such as Kotak 811, AU Abhi and now the Digital Lending Platform for U GRO", said Lalit Mehta, Co-founder, Decimal Technologies.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)