RULOANS Distribution Services has introduced India's first fully digital lending solution for home loans (HL) and loans against property (LAP) on its RUCONNECT app. Launched in collaboration with Piramal Capital & Housing Finance Ltd in September 2024, the platform enables end-to-end digital processing, simplifying loan distribution for channel partners. In just 60 days, over 7,000 applications have been processed, disbursing INR 35 crore in loans, with INR 100 crore in the pipeline. The app's seamless experience supports DSAs by eliminating physical branch visits and enhancing efficiency. This innovation marks a significant shift towards technology-driven solutions in India's secured loan market.
RULOANS Distribution Services, a prominent name in financial product distribution, has announced that its fully digital secured loan portfolio has garnered an exceptional response from the Channel Partner community. Launched in September 2024 through the RUCONNECT app, this portfolio offers a comprehensive, end-to-end digital lending process for home loans (HL) and loans against property (LAP), revolutionising the secured loan distribution landscape in India.
In partnership with Piramal Capital & Housing Finance Ltd, RULOANS has introduced India's first fully digital, end-to-end lending solution for HL and LAP on the RUCONNECT platform. The service, designed with modern DSAs in mind, has gained significant traction among channel partners. The HL product offers an easy pathway to homeownership, while the LAP product is tailored to meet the financing needs of MSMEs, helping them achieve business growth and address capital requirements. This marks a shift from traditional methods to a cutting-edge, technology-driven approach, simplifying secured loan distribution and saving time for DSAs across India.
Since its inception, the platform has processed over 7,000 applications from more than 500 channel partners, resulting in loans worth over INR 35 crore being disbursed. Additionally, loans exceeding INR 100 crore are currently in the sanctioned pipeline. RULOANS is optimistic about maintaining this growth momentum throughout the October-December quarter.
The RUCONNECT app allows DSAs to complete every stage of the loan process digitally, including application submission, eligibility checks, status tracking, and disbursement, eliminating the need for physical branch visits. This user-friendly digital experience has resonated strongly with customers, driving impressive adoption within a short timeframe.
Kaushik Mehta, Founder and CEO of RULOANS, stated, "In the secured loan space, we have pioneered India's first fully digital secured loan product on RUCONNECT. The overwhelming response in just 60 days speaks to the market's readiness for digital solutions. Our collaboration with Piramal Capital & Housing Finance Ltd allows us to offer a seamless experience, and we are thrilled to capitalize on this first-mover advantage."
RULOANS foresees accelerated growth for RUCONNECT, buoyed by its initial success and strong demand. This development signals a transformative era for financial services, showcasing how digital innovation is reshaping industry practices and setting new standards for consumer expectations.
RULOANS, established by seasoned industry professionals, is a leading financial product distribution company offering loans, credit cards, and insurance services to its channel partners. Under the leadership of first-generation entrepreneur Kaushik Mehta, the company has served over 10 lakh customers across 4,000+ cities. With a digital-first approach epitomised by the RUCONNECT app, RULOANS leverages technology to enhance customer and partner experiences. Its in-house Business Rule Engine provides instant insights on loan eligibility, ensuring a faster and more informed process for its channel partners.
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