The investment services company will offer digital credit avenues to its merchants, B2B ecommerce traders, using FinBox’s embedded buy-now-pay-later (BNPL) and working capital credit products. Through this partnership, IIFL and FinBox will disburse loans over the next 2 quarters, through a digital model.
Using the FinTech startup’s offerings, lending organisations can benefit from lower costs per loan, as the press release says. Lenders, NBFCs, banks, and startups in the space have also reduced delinquency/default rates by 22% with FinTech's low-code tech stack that brings credit data from over 10,000 data indicators.
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