India-based private sector lender Yes Bank has rolled out a new personal loan solution for pre-approved liability account holders.
The bank has launched ‘Loan in Seconds’, a solution that disburses retail loans instantly to account holders.
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How it works
‘Loan in Seconds’ leverages the bank’s technology and analytics to identify and customise loan offers for each customer.
It uses its algorithm to make a real-time assessment of a loan application while eliminating lengthy documentation processes.
The solution delivers instant financing to customers, without having to visit the branch and submitting any paperwork.
Yes Bank will send an invite link to eligible customers – who can verify and accept the offer terms to get instant credit in their accounts.
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By GlobalDataSpeaking on the launch, Yes Bank global head of retail banking Rajan Pental said: “This launch is a testament to Yes Bank’s continued leadership in digital innovation and technology capabilities, aimed to offer customers a comprehensive range of retail products in a form and manner which is convenient, fast and easy to use.
“With ‘Loan in Seconds’, we provide a differentiated banking experience to customers as the loan gets instantly credited to their accounts in a completely paperless and hassle-free way.”
The new product launch is part of the bank’s strategy to develop a transformed digital bank.
