- Extends it’s xlr8 platform and Zero Touch technology to its business partners and vendors, enabling automated invoice generation, real time approval and instant payout for their services.
- xlr8 platform provides one point access to view, track, analyses and download of service status, any pendencies/ updates and payout statements
Committed to strengthening relationship with its partners now more than ever, Lendingkart has launched an enhanced version of xlr8 which enables instant invoicing and payment without any manual intervention or dependency on any team. This enhancement was planned after extensive research undertaken by the team to identify the major pain points and areas where Lendingkart can really propel the growth of its partners. Setting new benchmark for the industry which has a payment cycle of 45 to 60 days, Lendingkart aims to support partners with real time payouts. These partners can focus on their competency to reach out to MSMEs through their relationship and not worry about invoice submissions, reconciliation and waiting for the payments. Partners can view, track, analyse and download their payouts and related information from the platform.
Commenting on the extension of its Zero touch technology platform, Manish Bhatia, President- Technology, Analytics & New Capabilities, Lendingkart said, “With an aim to empower and support MSMEs, Lendingkart has been committed to developing technology solutions which support and grow their business with minimum resources. During these unprecedented times, there is a large segment of MSMEs who require financial support and assistance. Through our channel partner and enhanced platform, the Zero Touch platform will assist all the SMEs and MSMEs to make the loan process seamless and secured financial aid on time to recover and bounce back stronger.”
S.D. Associates, a leading offline partner has been associated with Lendingkart for more than four years. Speaking on their partnership, Manoj Vijay, S.D. Associates said, “I am delighted to partner with Lendingkart for this unique solution enabling instant payout post working capital loan disbursement. With the Xlr8 platform, we can generate, verify and approve the details real time, eliminating delays owing to manual intervention around invoicing and payout. Amidst the uncertain business environment, this is a critical solution, we look forward to other NBFCs and banks adopting a similar model of instant payout soon.”
Speaking on their partnership, Satya Gumandi, “Working closely with origination team, this solution was much needed for instant payout of services. I used to borrow funds to make payments or I used to limit my operations to selected connectors and locations. With Lendingkart’s enhanced platform, payouts are now possible on the same day payout enabling faster geographical expansion and increased origination. I am grateful to Lendingkart to pioneer this change for offline partners which is sure to have far-reaching benefits.”
Lendingkart provides short term collateral free working capital loans to MSMEs with minimal paperwork within 72 hours. These include businesses that have little or no credit history available. The loan ticket sizes range from as low as Rs 50,000 up to 2 crores for a period of 1 to 36 months. The company analyses 5000+ data points from various sources and leverages robust in-house technology tools based on big data analytics and machine learning algorithms to evaluate creditworthiness. Lendingkart also offers several customized financial products to address today’s diverse business needs in competitive environments.