Marathons are my passion, says Loantap's co-founder Vikas Kumar
I am committed to following a healthy and disciplined lifestyle. As a rule, I plan my day early morning with a cup of black coffee. This works like meditation and help me stay focused on the outcomes. I also budget some free time for unexpected meetings.
How will the SC verdict on Aadhaar impact online lending companies?
The verdict will have an adverse impact on loan repayments. “Aadhaar is widely used in fintech ecosystem for contract sign-off, repayment set up and KYC. Loan collection mechanism (repayment set up) will go for major change as Aadhaar linkage to bank would have eliminated need for physical check or electronic clearance form pick up,” says Vikas Kumar, CTO & Co-founder, LoanTap.
SC verdict on Aadhaar rattles companies with eKYC and lending operations
“A law has to be passed or a Union Cabinet note has to be issued to allow the legitimate use of Aadhaar-based e-KYC for faster onboarding and to usher in Digital India,” said Vishwas Patel, chairman, Payments Council of India (PCI).
Just a tap to get you ‘LoanTapped’…
As an ex-banking professional and a veteran, I have been familiar with the shortcomings in the traditional lending sector. So, unlike other startups identifying a few gaps in their sector and solving the same, in our case, there isn’t one but multiple experiences that urged us to launch LoanTap.
SC's Aadhaar verdict rocks new-age digital cradle: All you need to know
The costs will go up, and just what alternative mechanism do you have to verify customer details for KYC (know-your customer) compliance?” asks Satyam Kumar, CEO of LoanTap.
Looking for a Dream vacation? These 5 platforms can fund it at your convenience
The season to plan your domestic and international travel is here. Before chalking down places to visit, the budget mapping is the most sought-after factor here. Thanks to the number of Digital lending platforms who offer fast approval, easy processing, hassle-free, flexible repayment options to fund your dream vacation.
Aadhaar verification cost Rs 15-20 per person, others almost 10 times more
Industry representatives say that their reading of the SC verdict is that private companies cannot demand Aadhaar, but can use Aadhaar e-KYC processes if the customer consents.
After SC verdict, online lending startups worried about costs of KYC without Aadhaar
Online lending startups are worried about the cost of KYCs and inefficiencies in the e-KYC process because of the absence of mandatory Aadhaar linkage.
Youngistan flocks to digital lending platforms
Digital lending platforms are becoming popular among youngsters who are in urgent need of money and prefer a paper-less process for sharing documents.
