VIVIFI India Finance: Lending a Helping Hand to Extend Credit to the Underserved

Credit and lending has for long been considered a segment that involves a labyrinth of verifications and approvals, deterring many from going down the rabbit hole, especially the unserved/underserved loan seekers. It is time for the FinTech industry to realize that its true growth will be achieved only when the under-served and unserved are able to access financial products using technology in the deepest, remotest places in India fully aware of what they are electing to do and the effects for the same. With the advent of digital lending, they can see a glimmer of light at the end of the tunnel. It promises to address the customer on-boarding hurdles faced by loan seekers in India. As a result, many digital lending startups have thrown their hat in the ring. However, providing customized products, improving speed of delivery and ensuring full disclosures are the major expectations for FinTech, which need to be met.

VIVIFI India Finance Private Limited meets these expectations through its solutions which have been built painstakingly taking into consideration the needs of the customer. “Our objective is not to sell loans to customers but offer them products of financial convenience, especially at their time of need. All our solutions for the customers are focused on enabling them to quickly get the cash they need with the flexibility to repay as per their cashflows and with full education on how to use the product and the charges that would become due on use of the product. We have also built products to ensure compliance with all the laws and regulations that deal with lending. While the competition is trying to leverage the over-leveraged customers, we are working with the objective of financial

inclusion,” says Anil Pinapala, CEO, VIVIFI India Finance.

Credit and Lending Made Easy
The company provides a unique product - FlexSalary which has been built on one-time sign-up and useas-per-your-needs concept, mimicking the credit card for its lifecycle and ensuring borrower education prior to disbursements. For all the active customers who have credit available, the process is to log in to the app or website or call-in from their registered cell phone and request a cash advance. This request is immediately serviced using IMPS and the customer receives their money into their bank account within seconds. To ensure that it is able to acquire, lend & service the requests of under-served & unserved customers across the country, VIVIFI has built a robust platform - LendEz that enables lending of customized products based on customer need. The platform can offer openended, closed-ended single or multiple payments, secured or unsecured loans.

While the competition is trying to leverage the over-leveraged customers, we are working with the objective of financial inclusion

“We pride ourselves in the fact that we are one of the first FinTechs to get a NBFC license before we went to the market. We are the only true line of credit in this space where the customer is approved once and can use their line as a digital credit/debit card as and when they need it to the extent of their line. While the rest of the competition is focused on offering shortterm products for the bank, we are focused on building credit for the customer with unique products that help the customer grow in a structured methodology,” concludes Anil.