- The company will use its AI-powered chat capabilities on WhatsApp to offer these pre-approved lines of credit.
BOXclaims to be the first fintech startup to offer instant creditlines without any documents, app downloads or form filling.
- Users can simply avail these loans by sending a “Hi” message to CASHe WhatsApp number +91 8097553191.
Fintech startup CASHe announced its latest feature on Wednesday which will offer instant lines of credit on WhatsApp in 30 seconds. The company will use its artificial intelligence (AI) based chat capabilities on WhatsApp to offer these pre-approved lines of credit that already exist.
CASHe claims to be the first fintech startup to offer instant lines of credit without the need for documents, app downloads or forms to fill out.
Users can simply avail these loans by sending a “Hi” message to CASHe WhatsApp number +91 8097553191. The services will be available 24/7 for all salaried customers and the amount will be provided in less than an hour. minute, the company pointed out.
The company says its AI-powered bot matches customer inputs and automatically facilitates a formal application, as well as Know-Your-Customer (KYC) verification. Once verified, it sets up a line of credit in just a few clicks through a guided conversational flow.
Borrower details will be generated and displayed based on the name entered – the only key input the borrower needs to enter at the start of the conversation, the company added.
“We believe that an innovative and groundbreaking service like this will not only enable our customers to have a top-notch experience in their credit application, but will also significantly expand our credit footprint by utilizing the enormous database of WhatsApp users, bringing us closer to our vision of achieving financial inclusion for the underserved in India,” said V Raman Kumar, Founding Chairman of CASHe.
CASHe’s WhatsApp chat services are based on WhatsApp Business Platform, an enterprise solution that enables businesses to communicate with their customers.
The six-year-old startup is an AI-based, mobile-only financial wellness platform. The company has recorded 20 million app downloads and disbursed loans of over ₹400 crore to over 4 lakh customers.
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