IIFL, FinBox to offer digital credit access to MSMEs

Friday 13 August 2021 13:19 CET | News

IIFL Finance, a finance and investments company, has partnered with India-based fintech FinBox, to offer digital credit products to its merchants.

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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Keywords: supply chain finance, trade finance, lending, SME lending, B2B payments
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: India
This article is part of category

Banking & Fintech