CASHe: Lending, Simplified for the Contemporary Professional

Ketan Patel | CEO CASHe

The past couple of years saw a wave of  transformation within the Indian financial technology along with financial services platforms. Technology had taken over most of the industries, and finance was not far behind. This brought with it plenty of changes in the way any financial procedure was implemented, along with its operational methods. Currently, some of the firms taking advantage of this scenario are Fintech start-ups who started by delving into the unexplored segments. They worked to bring innovation to the field, which was previously a tough task.

CASHe is one such company and has been the most preferred for digital lending purposes. CASHe also recognizes the concerns of young professionals and offers them instant, short-term personal loans with no inconvenience caused. These loans are given after considering a few factors such as the client’s digital footprint, merit and earning potential in addition to their social profiles. This is implemented into the system, and using its proprietary algorithm based machine learning platform, the company goes ahead with the digital lending process.

Being a new-age company, mathematical algorithms are also helping determine the risks from a potential borrower using the above information. Any publicly available data is examined, and the model of technology goes beyond the basic credit-risk metrics. Additionally, it assesses the goodness quotient of the borrower and his potential to repay. The company thus lends mostly to the younger crowd who are close to their prime or sub-prime levels, with or without any previous history of credit.

Emphasizing on the Technology and Target Audience

Every young professional, due to various time restraints tries to seek easier ways to do complicated tasks, mainly the ones that involve paperwork. Going to a bank to get their work done seems inconvenient for them, but CASHe contains a much-simplified borrowing experience. It eliminates any requirement of tedious paperwork, human interactions or any complexities in opting for a loan. As Ketan Patel, the CEO of CASHe states, “FinTechs bring speed and efficiency to the table along with precise products for precise audience.” Speaking of the company, he also says, “Most of the FinTechs including us, are on the right track to creating something unique. We’re now in a position where the customer is truly the king.” The UX of the online application is user-friendly and contains multiple loan options, which are completely digital. One of the key highlights of the app is how the user, without leaving their home, can avail a loan within an 8-minute Turn Around Time.

Elaborating on the uniqueness of the company, it also utilizes the proprietary credit evaluation framework or the Social Loan Quotient. It also combines Big Data Analytics with AI-based algorithms to assess the traditional inputs. The SLQ also calculates the loan amount and the interest rate to be charged.

The growth of any business requires tremendous use of the latest technological enhancements as well as address a larger market within the country. Hence, India is the ideal choice to invest in, for innovative fin-techs, especially keeping in mind the young population, and the immense contribution to the GDP.

A Deft Personality with an Advanced Outlook

Ketan Patel brings with him plenty of knowledge and experience which has constantly helped the company grow. He held the gargantuan responsibility of steering the it through strategic transformation by implementing innovative techniques. With the majority of the companies client base being young professionals, Ketan speaks of how CASHe focuses on them as a target audience, “CASHe aims to focus on a specific target audience. It is possible to focus on people in the age category of 24-34 and try to cover the person’s ecosystem to the best of abilities.” Elaborating on the intentions to serve them the best, he also says, “Observe what a 24-34-year-old would ideally want and accordingly serve that need. For example, rent deposit, 2 wheelers or even travel, e-commerce or insurance.”

Being a seasoned leader, his prior work experience involves an illustrious career at Kotak Mahindra Bank for close to 18 years, where he held some key positions. The one that he held the latest was in the Composite Business Solutions and E-Commerce Vertical. Between 2010 and 2015, he assisted in the establishment of a Private Banking Business with the Kotak Group in the UK. Apart from all of these, Ketan also managed various other sectors within Kotak, such as Kotak Securities, Kotak Wealth Management, Mortgages as well as Heading the division focused on NRI business. He holds an ideal track record of bringing in innovation as well as operational excellence while achieving revenue and profitability in business.

With the country coming up with initiatives such as ‘Digital India’, fin-tech companies have been finding plenty of opportunities. Using this they’re able to capitalize on and popularize cashless transactions. Banks being digitized have also given fin-techs the chance to become the future of the banking and financial sector of India. CASHe is initiating this step into the future and creating a hassle free pathway towards loans and other such transactions.

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