How does MoneyTap pre-approve applications in 4 minutes?
In simple words, the answer is next generation technology.
Carl Lewis once famously said “Life is all about timing”. We at MoneyTap couldn’t agree more. Time is now more valuable than ever before and often more than money.
In the age we live, our commitments towards our families, our friends, our career and our personal selves have grown manifold. We need to experience it all and if possible, really fast! In these various pursuits, it is natural to come at crossroads due to lack of ready finances.
For such times, MoneyTap realizes the importance of having ready credit as fast as possible. This is the reason why MoneyTap pre-approves your application within seconds. You can check your approved credit limit in real-time with a few taps on your phone. The approved credit amount is made available to you a few days after making necessary verification.
How can technology make this so fast?
We have put to use all the latest technologies, from Aadhaar integration, to powerful algorithms, to deep system integration with our partner banks. As a result, MoneyTap has an automated risk assessment and underwriting process which is critical in any credit approval.
For any eligible application, MoneyTap does several checks in parallel
1. Real time check for the CIBIL score and profile
2. Financial health assessment on the basis of the account statements
3. Checks to ensure compliance with our partner bank’s internal policies
All these assessments are carried out in a highly secured manner and comply with banking and financial regulations. Read more about MoneyTap’s security measures here.
Fast and Convenient
The risk assessment takes only a few seconds in real-time and makes MoneyTap one of the fastest ways to get credit. In the traditional banking world, this would take almost a week. You may even need to make a few calls and visit the bank personally. Read more to know how MoneyTap compares to a personal loan.
After the approval and verification of your application, the credit limit that is assigned to you is ready to be used as you like. You can access your credit money from the MoneyTap app or from the MoneyTap card. Our no usage, no interest feature, easy EMI conversions and limit top-up with every EMI repayment makes us not only the fastest but also one of the most convenient ways to get credit. Check out the most loved features of MoneyTap here.
So, go ahead and experience life un-interrupted and stress free. After all, you shouldn’t keep your life waiting. The next time you need some financial help, be it as little as a few thousand rupees for a month or so, think of MoneyTap as your personal genie and get credit in a jiffy! Try it out yourself if you find this hard to believe.