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Karnataka Bank has entered into an association with Yubi (previously often called CredAvenue Pvt Ltd) for co-lending through the Yubi Co.Lend, the latter’s co-lending platform.
The collaboration will enable the financial institution to digitally onboard numerous NBFCs, lend important amount of cash, and onboard a bigger buyer base because of their higher shopper outreach, the financial institution stated in a press release.
Quoting Mahabaleshwara MS, Managing Director and Chief Government Officer (CEO) of Karnataka Bank, the assertion stated the digital co-lending platform would allow Karnataka Bank and the NBFC companions to effortlessly combine and lend to debtors with quicker turnaround time.
“With the financial institution specializing in co-lending, we really feel this relationship with Yubi will help us in onboarding numerous NBFCs and guaranteeing last-mile connection for financial institution in locations the place we now have no attain,” he stated.
Gaurav Kumar, founder and CEO of Yubi, stated: “At Yubi, our intention has at all times been to steer the curve in relation to facilitating the circulate of credit score to the under-served by know-how. By this partnership, Karnataka Bank will achieve entry to a lot of monetary establishments throughout sectors. We mutually intention to supply credit score to the underserved sectors and speed up monetary inclusion within the nation by this partnership.”
Revealed on
August 03, 2022
