The company’s innovation in the financial technology space is supported by a bouquet of solutions that are offered, transforming traditional credit. OPL empowers banks, government agencies, and MSMEs with a wide array of over 40+ products. The company also partners with over 200+ banks to facilitate the staggering ₹82,000 Cr+ disbursements. Below are some of OPL’s transformative solutions:
Revolutionizing Loan Access
PSB Loans in 59 Minutes: What if one can get a loan in under an hour – Yes, you heard it right! OPL simplifies the lengthy loan process for Banks. India’s largest online lending platform psbloansin59minutes.com caters to the financial aspirations of MSMEs and assist lenders in customer acquisition, disbursement and monitoring ensuring deeper customer penetration and improved asset quality. MSME proposals are processed with a rules-based engine built using banks eligibility criteria. An exclusive banker’s interphase provides authenticated data and transparent processing resulting in reduced overheads and increased efficiency in handling more proposals.
Reshaping Credit assessment: FIT Rank: Goodbye to traditional credit scoring! OPL’s FIT Rank redefines credit assessment, FOR THE MSMEs via AI/ML, an additional risk differentiation over and above CIBIL MSME Rank. FIT Rank is a Financial, Income, Trade Data based credit rank for MSMEs. It takes underwriting decisions one notch up by leveraging Bureau data, ITR data, GST data, Bank a/c details. A statistical and modular approach that works with available information from any source. FIT rank empowers bankers with the ability to assess New – to – credit using bank statements, ITR, and GST information. This unique FIT ranking scale ranges from 1: minimal risk to 10: highest risk, provides banks a comprehensive summary of the fitness of MSME, allowing them to speed up and make the right lending assessments.
Invoice based lending: ‘BHIM for Lending’ envisioned as a fully digital seller/buyer financing product based on standard OCEN protocols. Lenders can secure data directly from source helping save significant integration efforts for lenders. Bank account details of MSMEs are collected digitally through account aggregator and GST data from GSTN through GSP. Lenders are enabled to offer instant small ticket, collateral-free, cash flow-based loans to MSMEs against its invoices. The entire loan process is digital from lead generation to disbursement and is expected to be completed within minutes. A secure and scalable source of credit for MSMEs and lenders enabling real time digital application & offers with Immediate disbursement & digital collection through e-NACH/Standing instructions.
JanSamarth: Bridging the gap between government schemes and beneficiaries, JanSamarth serves as a one- stop solution for credit- linked schemes. Integrating 15 government schemes, it simplifies access for all stakeholders, icing flawless loan operation and disbursement processes.
JanSuraksha: JanSuraksha is a portal envisaged to bring all the government sponsored social security insurance schemes under one umbrella. Currently the same is imagined with PMJJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana) and PMSBY (Pradhan Mantri Suraksha Bima Yojana). The purpose of JanSuraksha is to facilitate policy issuance and claim remittance online. Various stacks involved with the schemes of PMJJBY and PMSBY will come together to form a repository of their data thereby avoid issuance of duplicate policies. This initiative aims to increase the reach of the schemes to as many customers as possible via the mobile application. With banks and insurers on the portal the customer journey is digitized along with the back-end processing for banks and insurers.
Prayaas: Teaming up with Microfinance Institutions and SIDBI, Prayaas is reaching out to women and micro entrepreneurs, offering a probative hand, fostering availability and convenience like no way ahead. This action will help empowering individualities to start their entrepreneurial journey with confidence.
Udyam Assist: Udyam help Portal is at the heart of OPL, a action that titleholders entrepreneurship as well as backed by the government. We are the driving force behind a range of tasks, from building new businesses to streamlining instrument distribution. Our thing? To produce hassle-free and flawless journey for aspiring entrepreneurs.
JanAushadhi Kendra: JanAushadhi Kendra stands as a beacon for the public in the healthcare sector. This innovative digital lending platform is devoted to offering fiscal backing to JanAushadhi Kendras( JAKs), those vital generic medical stores committed to furnishing accessible and affordable drugs. OPL platform is developed to make working capital and Mudra Yojana loans accessible to JAKs.
OPLs next generation credit products and solutions are giving lenders and borrowers the power to automate and simplify processes, better access to digital infrastructure, negotiate the right terms, and unlock possibilities. With rapid adoption of technology to streamline the overall process, OPL has enabled lenders to focus more on enhancing the consumer experience into a smoother and faster one and expanding consumer access to financing products. OPL strives to be that beacon of change and enable lenders to embrace the complexity of the technology landscape and the fragmented system.