When Inditrade Capital, a 29-year-old Indian financial services company, decided to get into the digital lending game in 2019, it realised it couldn’t do it all alone.
It needed a partner to help it reach people from all corners of India, analyse their data, come up with a risk score, verify their IDs, and check if they have other loans. Inditrade would only need to pick the borrowers it deemed creditworthy, and disburse and manage the loans. Even the collection needed to be outsourced. All of this is allowed by the regulator.
Here’s where loan apps come in.