Indian banks, NBFCs use AI for faster secured loan processing
Business
Indian banks and NBFCs are turning to AI to make getting secured loans way faster, cutting down the usual 18- to 21-day wait, which is largely driven by administrative coordination delays.
This tech upgrade is also helping more people in smaller cities and rural areas access credit.
AI tools simplify onboarding, enhance security
AI tools like FinBox's Atlas now automate document sorting and keep your data safe, while chat, voice, and video onboarding make applying for loans feel less like filling out endless forms.
Real-time fraud checks add extra security. Plus, conversational AI lets borrowers use their own language, opening up loans for small businesses that used to be left out by English-only systems.