BCR NEWS/Gurugram, October 20, 2021: “Electric vehicle loans is a promising area for us, environmental issues will push growth of E Vehicles.”, Said LoanTap CBO, Mayank Sangani at a media interaction held here to announce unveiling of LT FLoW, a digital lending platform, under which ‘I-Loans,’ will be the the new face of Bajrang Financial Ltd, a traditional two-wheeler finance company based out of Delhi. Under the new avatar, I-Loans will be providing personal loans for electric two-wheelers, blue-collar workers, and even MSME loans to retailers.
LT-FLoW is an embedded finance platform designed by LoanTap that helps product and service companies to marry new age or traditional lenders and provide credit facility on the platform.
Sangani added, “The initiative is specially designed for customers to avail instant credit for electric two-wheelers and we see a lot of potential here. An application further facilitates easy EMIs, flexible repayments, and fast processes.”
‘I-Loan’ application will help customers avail loans digitally via a few clicks, making it easier for customers to access credit at their convenience.
Gautam Sinha, Senior VP, Technology, said,“The transformation of Bajrang to I-Loans is a strategic move by LoanTap to provide easy and quick access to availing electric vehicle loans and it is also a collective effort to provide a singular platform for various products and services, which are being offered by us.”
“We at LoanTap are aiming at complete financial inclusion and hence have chosen to digitize the platform. Through this step we aim at catering to Tier 1 and Tier 2 and even the rural areas of the country, it is easier for potential customers to login on a website/application rather than visiting a physical branch,” Sinha said.
LT FLoW offers among other things end to end digital platform with plug and play features, complete freedom on the financial products which can be offered to borrowers through this platform, and the platform is enriched with Artificial intelligence (AI) and Machine learning and analytics to better understand customer persona and enrich customer experience
