There are more than 9500+ RBI-registered non-banking financial companies in India, but only 180 of them have the capability to lend digitally. This means less than 5% of lenders in India today have the capability to perform KYC, credit score check, bank statement analysis, credit underwriting, disbursement, collections and loan management digitally.

The key problem faced by lenders when it comes to digitisation is that they’re forced into hiring an entire team of engineers – regardless of whether they build in-house solutions or use existing solutions. It would take at least 6 weeks to start disbursing.

FinStack provides a no code platform that takes care of the API integration, feature computations, underwriting journeys and loan management systems in less than 10 minutes without needing to hire a single developer.