Mobavenue, an AI-based solutions provider to banks and NBFCs for acquisition of customers, said it has seen a rise in demand for personal loans and opening of savings accounts, home loans and credit card products from millennials and self-employed persons.
It said with the economy coming out of the shadow of COVID-19, the demand for credit has been growing.
The company said it has enabled more than ₹1,000 crore loans for many leading private sector banks and NBFCs.
It is currently working with leading banks and NBFCs like ICICI Bank, IndusInd Bank, Kotak Mahindra Bank, KreditBee, Freecharge, Navi Finserv, Nira Finance, Fi Money, Unicard, OneCard, and Policy Bazaar to drive instant loans, personal loans, home loans, savings accounts, credit cards and insurance, it said.
“Of the various types of personal loans, an increase in credit card spending, housing loans, vehicle loans, loans for consumer durables and other personal loans have contributed to the surge,” said Kunal Kothari, Co-Founder, Mobavenue.
“We use technology extensively across the value chain to power our decision making and enhance customer experience. We provide an end-to-end service based on a completely stacked programmatic platform and help the clients grow their business efficiently,” he said.