LoanFaucet’s know-how division, LTFLoW Partners with The Cosmos Co-op Bank Ltd. for Innovative Web-based Acquisition Platform for Retail Loan Products ~This launch will assist LoanFaucet broaden its presence within the Urban Co-operative Bank Segment~ Pune, seventh Feb 2024: Leading digital lending platform LoanFaucet’s know-how division, LTFLoW, has introduced the profitable implementation of its digital journey for retail loans at The Cosmos Co-op Bank Ltd., serving to in accelerating their digital transformation. Having beforehand helped the Bank of Maharashtra improve the digital transformation of its mortgage merchandise, LTFLoW’s digital options will cowl Cosmos Co-op Bank’s 5 mortgage merchandise, together with Home Loans, Auto Loans, Personal Loans, Loan Against Property, and Consumer Durable Loans.

LTFLoW has developed and deployed a web-based buyer acquisition platform for these loans, along with a multi-level admin panel to view and monitor all functions branch-wise.

Cosmos Co-op Bank’s dedication to embrace digital developments has allowed us to complement its digital transformation. It will permit the purchasers to use for loans on-line via the Bank’s web site, eliminating the necessity to go to any department, and the platform will present digital lead technology for numerous retail loans. LTFLoW has developed an acquisition module for the Bank, enhancing the digitization of their lending course of. This may even assist Cosmos Co-op Bank to serve new clients along with those that have already got an account with them. Additionally, BRE (Business Rule) within the backend will improve the potential to In-principally approve or reject the appliance, and the multifunctional admin portal in any respect ranges will enhance software monitoring.

This transfer won’t solely profit Cosmos Co-op Bank but additionally permit LTFLoW to assist different co-operative and small finance banks embrace digital transformation. This partnership will assist LTFLoW generate income and onboard extra co-operative and small finance banks. Currently, there are 1,853 city cooperative banks in India plus many rural cooperative banks, and at the very least 30% of those want to go digital.

“We are proud to be in this partnership with Cosmos Co-op Bank. We believe in its leadership and are confident that this partnership will help us grow as well. We aim to enable co-operative banks to lend digitally and generate revenue while also helping them onboard more customers.” mentioned Gautam Sinha, CEO of LTFLoW.

“Cosmos Bank is positive about acquiring New customers and loan leads using this Web-based Acquisition Platform. It is a great partnership start with LTFLoW and we are looking forward to continuing this relationship in the future as well,” mentioned Arti Dhole, CITO of the Cosmos Co-op Bank.