CASHe launches instant credit line on WhatsApp
June 16, 2022
The company claimed to be the first fintech enterprise to provide instant credit without the need for documentation, app downloads, or the filling of application forms. Whatsapp users in India may get a pre-approved credit limit from CASHe in under a minute on any given day. Anyone may use this service by simply typing “Hi” to CASHe’s official WhatsApp number and initiating a conversation stating their requirements, the company stated in its press release.
An AI-powered bot supports this service, which matches the customer’s inputs and automatically enables a formal application, as well as a KYC check, and then sets up a credit line in a few clicks through a guided conversational flow once validated. The borrower’s data will be generated and displayed depending on the name given, which is the only crucial input required at the beginning of the discussion from the person seeking a loan.
The company claimed to have witnessed tremendous traction during the beta testing of the service, stating that there was a ‘near-zero delay’ in approving credit limits for KYC-compliant customers who were using the platform.