iQuippo digitises co-lending programmes of banks and NBFCs
Technology

iQuippo digitises co-lending programmes of banks and NBFCs

iQuippo, India’s first digital marketplace for infrastructure equipment, has launched its upgraded financing portal, which makes it the first digital platform in the country to digitise the co-lending programmes of banks and NBFCs.The state-of-the-art platform now of...

iQuippo, India’s first digital marketplace for infrastructure equipment, has launched its upgraded financing portal, which makes it the first digital platform in the country to digitise the co-lending programmes of banks and NBFCs.The state-of-the-art platform now offers customers an option to choose offers from different financial institutions; it also negotiates with them online on behalf of the financial institutions and customises offers according to their financing needs. Customers will be able to track their loan applications online, get feedback on documents they need to avail loans, and get answers to all their queries relating to the disbursement process. They will also benefit from single-window access to multiple financiers, simple documentation and hassle-free application. Further, they will get real-time offers from the financiers in the form of competitive rates and higher LTVs (loan-to-value ratios). Meanwhile, dealers will be able to upload their invoices, generate leads, track customer applications and avail a free customer relationship management tool, which will improve their client relationships. Financiers will have a chance to check credit scores and receive other necessary data for loan approvals in a transparent and efficient manner. The current sole lending and co-lending banks such as  HDFC Bank, ICICI Bank, Axis Bank, YES Bank, Bank of Baroda and Oriental Bank of Commerce, and leading financial services companies like Srei Equipment Finance and Mahindra & Mahindra Financial Services are expected to offer loans to iQuippo customers for purchase of infrastructure equipment on the platform. The move further enhances iQuippo’s drive to digitise the entire lifecycle of infrastructure equipment and bring all relevant stakeholders – customers, OEMs, dealers and financiers – on one platform. The platform is especially beneficial to SMEs and MSMEs.“We have developed the portal together with IBM, in the process becoming India's first ever platform to digitise the co-lending process,” says Anant Raj Kanoria, CEO, iQuippo. “Our teams have been part of several design thinking workshops with internal and external stakeholders and conducitng market surverys to find the best technology solution for our stakeholders. We believe that the portal will be a gamechanger in the equipment market as it makes life easier for all stakeholders through a transparent process.”“The most fascinating aspects of our portal are the negotiation and customisation options for our customers,” he adds. “Indians always have a preference for bargain buys and to digitise the process of negotiation initially was a challenge. But we have been able to introduce this aspect and create a value proposition for our customers.”

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