Instant loan within the wallet app.
MobiKwik has launched ‘Boost’ product, which offers instant loan approval and disbursal to MobiKwik users.
Loans of upto Rs. 60,000 are sanctioned as well as disbursed in a matter of 90 seconds. MobiKwik has partnered with a number of NBFCs to offer this service to its users. MobiKwik is the first wallet player to disburse loan amount in the user’s mobile wallet.
‘Boost’ offers loans without any hassles of submission of paperwork or collaterals. The loan sanction decision will be taken in 30 seconds, on the basis of an innovative risk scoring model called ‘Mobiscore’, developed by MobiKwik.
AI @Work? The real time underwriting has been possible only because of artificial intelligence and data analytics capabilities used in the entire loan journey.
Users can apply for loans ranging from Rs. 5,000 upto Rs 60,000 through MobiKwik app.