TSLC Alliance to launch app-based lending platform in Bangladesh
BI Report || BusinessInsider
Singapore-based firm The Social Loan Company (TSLC) and local company Alliance Holdings have formed a joint venture to launch TSLC’s app-based digital credit solution CASHe in Bangladesh.
CASHe is an online credit solution platform that promises to deliver appropriate, affordable, accessible and differentiated financial solutions to middle-income consumers, said a press release.
In collaboration with banks, financial institutions and other micro-credit lenders, CASHe will enable customers to access end-to-end tech-enabled financial solutions, including loan eligibility, application approval, document, and disbursal on one single platform.
Unlike anything in the past, the AI/ML-driven platform will instantly allow lenders to avail short-term personal loans from Tk 15,000 to Tk 50,000 with an initial credit period ranging from 2 to 12 months, the release reads.
“TSLC has been founded to empower millions of young salaried digital natives and millennials who were overlooked by conventional banks and financial institutions,” Deepak Saluja, co-founder and Group CEO of TSLC said.
“We are focused on serving underserved digital natives in emerging and frontier markets.”
“Together with Alliance Holdings we hope we will usher in a new era of inclusive, honest, and affordable financial services to everyday consumers in Bangladesh,” he added.
Jowher Rizvi, chairman of Alliance holdings and CASHe Alliance said, “We are delighted with our partnership with TSLC. Together with TSLC, we will build a unique financial wellness platform that will help unlock opportunities and empower moderate-income communities on their journey to financial security and independence.”
“We will serve the customers who will no longer have to physically visit the bank branches to avail of nano loans,” he added.