Finzy, a fintech platform in the peer to peer (P2P) lending space has won the coveted Product Innovator NBFC Of The Year Award at the India NBFC Summit and Awards 2019. The award acknowledges exceptional product innovators in the financial sector and has bestowed this year’s honour on Finzy.
Established in 2016 with its headquarters in Bengaluru, India, Finzy- a powerful tech-driven lending platform registered with RBI as an NBFC-P2P- functions with the vision to make finance easy. Finzy helps connect verified borrowers looking for affordable personal loans with investors looking to invest in a new risk optimized asset class. Finzy’s focus on prime borrowers, unique positioning, proprietary credit assessment algorithm, effective collections and recovery teams, ensures that it manages the entire loan lifecycle end to end.
Diversified investments, single click investments, monthly returns and ability to reinvest the returns to unlock the power of compounding, ensure that both investors and borrowers have a powerful value proposition on finzy.
Cutting edge features and great customer experience are helping the startup beat its competitors and stand out in the digital lending space.
We reached out to this year’s honorees at Finzy for comments on their latest achievement:
Amit More, Founder & CEO, Finzy, “Our vision is to create the most innovative yet simple financial solutions with customer experience right at the centre of all our product features and processes. We have been winning over TRUST of our customers and this has helped us to scale our business numbers and team without compromising a bit on our quality standards. Product Innovator of the Year Award is a clear validation of our approach, and our roadmap of product development will soon make Finzy a ubiquitous financial application on every smartphone of this country.”
Finzy provides regular monthly returns to the investors. On average the returns are at 15.5% p.a, which is higher than most other asset classes. The simple and user-friendly process at Finzy allows the borrower to receive funds in less than 48 hours. The risk is optimised due to the ability to diversify investment across multiple hand-picked borrowers.
Apoorv – CIO and Head of Product, “At finzy we are always looking to build features and capabilities that solve real-world problems. A lot of inputs for these innovative features come from talking to our customers regularly about their experiences in investing and borrowing. Focus on great customer experience and listening to what customers have to say has helped us stand out and stay true to our goal of changing the way India borrows and invests.”
With a team of over 130 employees, Finzy has opened investment opportunities for people across India while the borrowing option is currently available in eleven Indian cities – Mumbai, Delhi, Kolkata, Chennai, Bengaluru, Hyderabad, Pune, Mysore, Coimbatore, Vizag and Ahmedabad. The Platform is expanding in more geographic regions for borrowers as well as industry-first product innovations are set to launch in the next few months in 2019.