MoneyTap – The Transformation of Digital Lending Process

Once upon a time, banks were synonymous to long queues and unmanageable amount of paperwork. But now technology has taken charge and is leading the way to change the banking sector forever. One of the processes that’s hugely impacted is the lending process.

With the advances in technology, many app-based fintech companies have cropped up in the banking sector to make the lending process online, quick and efficient. MoneyTap is one of them.

What is MoneyTap?

MoneyTap is India’s first app-based online lending platform that offers personal loan in the form of a personal line of credit. With the tap of a button, this app allows you to borrow money as low as ₹3,000 or as high as ₹5 Lakh depending on your approved credit limit.

digital lending process

How MoneyTap has embraced technology to make the lending process easier and efficient for you?

  1. Goodbye to long queues – Earlier, every time you wanted to apply for a personal loan, you had to spend hours in bank queues over lunchtimes or on Saturday mornings. Now it’s a different scene altogether. MoneyTap has leaped on the opportunities offered by technology to make the loan application process online.
  2. One tap process – Technology has brought the world to us at our fingertips. From shopping for clothes to ordering food, everything is just a tap away. With just a tap of a button on your smartphone, you can download MoneyTap, apply for a personal loan online, get instant pre-approval status, and quick disbursal once final approval is done.
  3. Less documentation – There were days when you had to take carry along a humongous amount of paperwork to the bank when you had to apply for a loan. Now because of technology, the process has become practically paperless – Just click upload and it’s done!
  4. Easy transactions and tracking – You can easily track your money and your transactions. This helps you in gaining financial clarity.
  5. 24×7 Access – You can access money-on-the-go from anywhere and at any time. This feature comes handy when you need immediate cash to meet a financial need such as a medical emergency.

MoneyTap ­– A product of a great financial revolution

As a product of a great financial revolution, MoneyTap isn’t just about innovation. It’s more about meeting people’s needs and making their lives better.

Technology­ – A positive force for banking

The financial sector is going through a digital transformation. Technology is holding so much potential that it’s going to evolve. Both the consumers and the banks are quite enthusiastic about how it unfolds in the future.

Author Bio:

Shiv Nanda

Shiv Nanda is a financial analyst who currently lives in Bangalore (refusing to acknowledge the name change) and works with MoneyTap, India’s first app-based credit-line.

Shiv is a true finance geek, and his friends love that. They always rely on him for advice on their investment choices, budgeting skills, personal financial matters and when they want to get a loan.

He has made it his life’s mission to help and educate people on various financial topics, so email him your questions at shiv@moneytap.com.

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