Top fintechs dial NBFCs for secured credit partnerships
Synopsis
Fintech startups, having built trust as unsecured loan providers, are setting their sights on the secured credit market. Companies like PhonePe, Cred, and Paytm are seeking collaborations with non-banking financial institutions (NBFCs) to facilitate these secured loans. Lenders also want to work with fintechs for such products, as they look to source prime customers through these platforms.
After establishing themselves as a reliable sourcing channel for unsecured consumer credit, fintech startups are now trying to tap into the secured credit market. Players like PhonePe, Cred and Paytm are looking for partnerships with non-banking finance companies (NBFCs) to process such loans.Lenders are also keen to work with fintechs for such products, as they look to source prime customers through these platforms.Unlike unsecured loans where
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