back Back

Kinara Capital launches myKinara mobile app for MSME loans

By Leandra Monteiro

November 26, 2021

  • Digital Loans
  • EMI
  • FinTech
Share

Kinara Capital, funding, India, IndusInd BankKinara Capital, a fast-growing FinTech, recently launched myKinara mobile app that comes with a simple 3-step process and is a first of its kind in the unsecured MSME business lending space. myKinara app puts the power at the fingertips of small business entrepreneurs to securely apply and receive collateral-free business loans digitally within 24-hours turnaround time (TAT).

Leveraging years of Kinara’s proprietary data-driven AI/ML-based credit decisioning, the myKinara app now makes the digital process used by field officers directly accessible to MSMEs in India. The myKinara app is available in multiple languages including, English, Tamil, Hindi, Telugu, Kannada, Marathi and Gujarati. Women-owned MSMEs qualify for an automatic discount under the company’s HerVikas programme, without requiring any separate application.

“With the proliferation of smartphones, MSMEs are ready and willing to participate in digital India, but there are limited solutions for them. Our vernacular myKinara app extends our financial inclusion commitment by enabling small business entrepreneurs to create a self-directed loan application journey. Fast decisioning, processing, and disbursements in a span of 24 hours goes a long way in meeting the demands of our customers, thereby supporting their business growth,” said Hardika Shah, Founder and CEO, Kinara Capital.

Small business entrepreneurs can check their eligibility in under 1-minute without any document uploads in the first step. By completing KYC and income verification in the app directly, the applicant will receive a loan decision with details of the approved loan amount, interest rate, loan tenor and the approximate Monthly EMI. They can then continue the loan disbursement process with an e-sign option.

With the myKinara app, small business entrepreneurs can choose to complete the process in their own time with help always just a click away. They can contact Kinara’s multilingual customer call center directly from the app, or request for doorstep customer service if they need in-person support. Kinara’s vast network of 110 branches will continue to help local MSMEs and follow the same digital process as available on the myKinara app.

Previous Article

November 26, 2021

DeFiato completes first round of private capital raising

Read More
Next Article

November 26, 2021

Ninety Nine implements instant payments with TrueLayer

Read More








IBSi Daily News Analysis

March 22, 2024

Digital Loans

Industry experts stress modernization, sustainability, and AI as cornerstones for future of corporate banking, Finastra study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

March 28, 2024

5 Major FinTech Acquisitions announced in March 2024

Read More

March 28, 2024

Qonto unveils its first in-house financing offer, ‘Pay later’

Read More

March 28, 2024

Maybank & Doxa team to offer supply chain financing solutions

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023