back Back

Leverage announces foray into Financial Services

By Leandra Monteiro

January 10, 2022

  • Bank Accounts
  • Digital Lending
  • Education Loans
Share

LeverageStudy Abroad Platform Leverage, which operates LeverageEdu.com, UniValley.com, UniConnect, among others – announced its foray into financial services. Within this, the company is launching three different services: international remittances, education loans, and international bank accounts.

Speaking on the announcement, Founder & CEO Akshay Chaturvedi said, “Topmost focus area for us is remittances right now, its got a great product-market fit with the student journey, plugs in beautifully with our app, and has grown a full 100% month-on-month ever since it’s pilot 3 months back. That gave us the confidence to apply for an FFMC license”.

Chatutvedi added, “We have a different approach on education loans, and are at the moment only aiming to facilitate the lowest possible interest rate to be able to complete the loop for students – that gives us a chance to work with leading public sector banks and undercut the market massively, being able to give out the best interest rates!”.

The company said that in a pilot for its students in the last intake, it processed loans over ₹75 Crores, and is aiming to hit a ₹1000 Cr loan book in the next 6 months. Today, it has an API-level relationship with multiple banks and gives them access to an additional app built on the Leverage Student Dashboard.

“Leverage Edu stands for trust, and that takes precedence over all else for us. We had a record 18% referral in the September intake. Students trust us to help with the right country, right program, and how they lead into the right-fit employment outcomes right from step zero! Most lenders don’t have the kind of relationship we have with a student, and we are using the same to be able to fight on behalf of the student for best rates, and more customized pricing / credit decisions that take into account multiple external factors outside just the plain financial records,” Chatutvedi added.

Previous Article

January 10, 2022

Digital Align appoints Kevin Murphy as its Vice President of Sales and Business Development.

Read More
Next Article

January 10, 2022

Ecospend partners with Contis to offer Banking-as-a-Service products

Read More






IBSi Daily News Analysis

cybersecurity,

June 20, 2024

Bank Accounts

Why predictive AI is a critical necessity in the field of cybersecurity

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

June 20, 2024

Natwest snaps up Sainsbury’s banking business in £2.5b deal

Read More

June 20, 2024

DZ Bank taps Surecomp for Collaborative Trade Finance Platform

Read More

June 19, 2024

Dineo Crédito taps Mambu to bolster lending capabilities in Spain

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
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