V. Raman Kumar, Chairman of TSLC PTE LTD, unveils mobile-only lending platform – CASHe, which will provide users with a personalised experience to borrow cash anytime, anywhere within minutes. CASHe is Raman Kumar’s most ambitious tech venture that redefines credit in a smart, social world.
“CASHe is the ideal platform for consumers to take control of their short term finances”, said V. Raman Kumar, Chairman of TSLC PTE LTD.
Arjun Kapoor, Bollywood’s rising star, inaugurated the product . Arjun Kapoor was joined by CASHe’s eminent Board of Advisors comprising Dr. Rakesh Mohan, Former Deputy Governor of RBI and Director IMF, Suhel Seth, well-known marketing guru and media personality and Yezdi Lashkari, the tech thought leader.
Raman Kumar said that today’s young professionals have different aspirations and needs which are not very well addressed by the present banking system. Banking procedures are complex and take a lot of time to release the money; the person in need for money immediately fails to get the loan on time.
CASHe is simplifying the borrowing experience with the new smartphone platform. CASHe will be providing immediate cash loans based on the social profile, merit and earning potential using the proprietary algorithms and machine learning. Kumar added, “All loans through CASHe will be disbursed by One Capitall Ltd, An RBI- registered NBFC. ”
Film star, Arjun Kapoor stated," Today’s generation believes in instant gratification. If I have to speak on behalf of the generation I represent then I’d say our fundamental belief in life is to work hard but party harder and at most instances we run out of resources to cater to our fast paced lifestyles. Saving money is more important to my parent’s generation than it is to my generation. CASHe will be the go-to app to raise immediate and efficient money. CASHe is a great way to ensure financial independence and responsibility at the same time. I am delighted to be associated with CASHe”.
CASHe uses sophisticated proprietary technology that mines the borrower's social network and requests basic documentation to arrive at a “Social Loan Quotient” (SLQ) and a loan eligibility amount. Using multiple unique data points to arrive at a distinct credit profile for the customer, CASHe will transform traditional credit measurements, providing financial inclusion to underserved young professionals who are kept out by traditional credit rating and banking systems.
By providing basic information on a smartphone, professionals can avail of a convenient 15-day loan, within minutes, for a one-time processing fee with no other hidden costs, no painful paperwork and no human interaction. CASHe’s target clients are young professionals who are 20-35 years old. Upon confirming eligibility, these employed individuals can avail of a loan of up to 40 per cent of their monthly income instantaneously at a rate of interest on par with credit cards.