iQuippo launches upgraded financial portal


January 2020
iQuippo launches upgraded financial portal

iQuippo, India’s first digital marketplace for infrastructure equipment, launched its upgraded financing portal (www.iquippo.com) and became the first digital platform in the country to digitise the co-lending programmes of banks and NBFCs.

The state-of-the-art platform now offers its customers an option to choose offers from different financial institutions. It also negotiates with them online on behalf of the financial institutions and customises offers according to their financing needs. Customers will be able to track their loan applications online, get feedback on documents that they need to avail loans and get answers to all their queries relating to the disbursement process.

They will also benefit from a single-window access to multiple financiers, simple documentation and hassle-free application. They will also get real-time offers from the financiers in the form of competitive rates and higher loan to value ratio (LTVs). Following this launch, iQuippo’s customers will be to avail finance for their equipment purchase at the click of a mouse from the comfort of their home/office.

Meanwhile, dealers will be able to upload their invoices, generate leads, track customer applications and avail a free Customer Relationship Management tool which will improve their client relationships.

Financiers will have a chance to check credit scores and receive other necessary data for loan approvals in a transparent and efficient manner. This will lead to a quicker turnaround time, digitised documentation and reduction in cost for financing partners. The current sole lending and co-lending banks such as HDFC Bank, ICICI Bank, Axis Bank, YES Bank, Bank of Baroda, Oriental Bank of Commerce, and leading financial services companies like Srei Equipment Finance and Mahindra & Mahindra Financial Services are expected to offer loans to iQuippo customers for purchase of infrastructure equipment on the platform.

The portal has been jointly developed with IBM to offer transformational technology with the highest level of security, performance and transparency. With this launch, iQuippo has emerged as the one-stop-shop for all its stakeholders.

Commenting on the development, Anant Raj Kanoria, CEO, iQuippo, said, “We have developed the portal together with IBM and in the process became India’s first-ever platform to digitise the co-lending process. Our teams have been part of several design thinking workshops with internal and external stakeholders and conducting market surveys to find the best technology solution for our stakeholders. We believe that the portal will be a game changer in the equipment market as it makes life easier for all stakeholders through a transparent process.”

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