We are delighted to share that our client OptaCredit, has been featured by Forbes Magazine in their November 2016 issue. They have been covered as one of the handful Fintech Startups who have benefited from the country’s demonetisation move. They have achieved a 300% increase in loan applications after the government’s announcement of banning Rupee (‘Rs’) 500 and Rupee 1,000 currency notes.

The startup, founded by S Kumar Srivatsan, a former executive at Royal Bank of Scotland and Ernst and Young, is bootstrapped and operating with a seed funding of $500,000.

OptaCredit is an Artificial Intelligence powered, data-driven online lender providing millions of eligible borrowers, individuals as well as small and medium-sized enterprises, across India, with access to timely and transformational credit via its revolutionary Credit-as-a-Service platform.

Leveraging Cloud Lending Solutions technology, OptaCredit was able to create a 100% online application process with 24/7 access and offer flexible loan products with customised repayment options, competitive interest rates, and same day sanctions.

OptaCredit’s proprietary scoring algorithms utilize various data points, both traditional and non-traditional to assess an applicant for business or personal loans and provides every applicant with an OptaScore. OptaCredit does not rely on the bureau score, and hence even first-time applicants, who are generally rejected by traditional lenders for being “thin files”, can avail these loan products.

OptaCredit, CEO, S Kumar Srivatsan believes that the Cloud Lending Solutions products, CL originate, CL Loan and CL Collections offer an end-to-end loan management solution that is nimble, scalable and has assisted them to digitize the entire lending process and improve customer satisfaction with extremely low Turn-Around-Times (TAT). The in-house control and data security features in Cloud Lending Solutions products have provided a level of comfort and security to all the users and customers of OptaCredit, and thereby providing a valuable edge in this competitive landscape.

OptaCredit’s Lending Platform has been built over our cloud-based lending platform, and, by blending the best of technology and lending practices, they aim to democratize the Indian lending industry.

We at Cloud Lending Solutions are excited to partner with OptaCredit and look forward to their continued success in their exceptional journey of reinventing the Indian lending industry.

Leading SaaS Solution Enables Rapid Launch of Service

Within the Fintech sector, the spotlight is now on a new business model known as online lending. An alternative to traditional financing spearheaded by banks, online lending uses ICT to provide lending opportunities to many customers by deploying new screening and...

Small Business Lending: A For-Profit Business

There is nothing small about small business.  There are 28.8 million small business in the United States, and small businesses make up 99.7 percent of all businesses in the country.  Small businesses are the engine that drives our economy, so ten years ago when our...

Winning Over Resistance to IT Changes

Finance organizations worldwide are struggling with aging lending and leasing systems. They have read much data and various case studies showing how new systems can improve operational efficiency, increase competitiveness and integrate with the third-party solutions...

Hybrid Lending

The Lending Domains are challenged by new players with better lending experience and a new way of risk assessment. Cloud, Big Data, Machine Learning, and Automation are bringing process efficiencies and transformed borrower experience. (Hybrid Lending)

Hebrew Free Loan – Lending A Hand To Our Community

As a nonprofit interest-free lender, our practices, collections and repayment policies and systems fall far outside of the norms of the lending industry, so it was imperative that our new lending software is adaptable. We found CLS to be highly customizable, and it...

Two Readily Available Solutions to Expand Funding for Smaller Businesses

Small and mid-sized companies are vital to the prosperity of the U.S. economy. Yet many struggle to secure the financing needed to grow their businesses. Access to financing has improved to some extent in the recent years as have the options with the influx of online...
Load More

Get help from the industry's lending experts

For more information, ask a question or to request a demo, contact us.
Please Complete All Fields