We all belong to the generation that has witnessed a massive transformation in the finance industry i.e. Fintech Revolution. The word “Fintech” suppositionally imbibes two ground-breaking industries, finance and technology. Fintech is the prolific utilization of technology to deliver faster and convenient financial services. With the constant evolution of technology, the fintech industry has never left any stone unturned in integrating emerging technologies to enhance the user experience.
The current generation is more likely to rely on technology and look for comfortable alternatives for everything in their daily life. Millennials would always expect things to be done at their fingertips irrespective of time and place.
Though banks have always been in their best possible efforts to integrate distinct technologies to their operations and render impressive financial services to their consumers, somehow their efforts couldn't meet the expectations of consumers.
During that point of time, fintech has evolved with ultimate resolutions using technology to all kinds of financial services from a user convenience perspective and bridged the gap that banks were unable to fill. Peer to peer lending, digital payments, online transactions, instant loan accessibility, etc. were some of the brilliant innovations which have comforted our daily life from the banking perspective in numerous ways
By optimal utilization of technologies like Artificial intelligence, blockchain, bootstrap, etc. the fintech industry has changed the way of banking and transactions once and for all. Also, by employing various kinds of data extracted from different platforms such as social media or e-commerce, etc. it has become so easy for fintech platforms to understand the needs of the consumers and fabricate products according to it.
Quick Credit is a south-Indian Based fintech platform that is setting an example to budding fintech startups with its results-oriented technology implementations. An extremely proficient team of developers has fabricated a highly efficient and user-friendly interface using technologies like bootstrap and complex algorithms to ensure a hassle-free navigating experience to the consumers. Quick Credit believes that "integrating technology would offer a wide spread of benefits in terms of productivity.”
Quick Credit allows the consumer to directly access its website and apply for a loan. Well, consumers can also register their loan appeal using QC’s mobile application on the android platform.
As the consumers fill the registration form with requested details, the advanced Artificial Intelligence technology would calculate the eligibility of the applicant using collected details from its database and answer back to the loan applicant within minutes.
Usually, the same process would take at least 4-5 days at any bank or financial institution to verify eligibility. Thus, QC has come up with an alternative using AI to conserve consumer’s time and efforts. The main advantage of integrating technology is that it lets things happen fast and elevates the quality of service.
Probably, it is impossible to find anyone who does not use a mobile phone in this technology-driven era. On top of that, people have counted on the mobile phone from minor to major things in life. So, why not banking?. QC has developed an instant loan application on the android platform with AI technology and smart algorithms which allows the consumers to access instant money whenever and wherever they want.
The complex algorithms would make things easy for the backend team by responding to the consumer instantly and preserve the acquired data safely.
Quick Credit offers credit for the instant cash loan, skill loan, salary advance loan, and travel loan against monthly income. QC is ranked among the top 20 most promising startups for the year 2020 and the QC app has reached 1 million downloads mark. These achievements would represent the efficiency of the Quick Credit.Disclaimer: The views, suggestions and opinions expressed here are the sole responsibility of the experts. No Forbes India journalist was involved in the writing and production of this article.