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While you can buy a new home online in top Indian cities today thanks to great leaps in technology brought about by proptech firms, financing that purchase would still require a lot of offline processes.
We recently came across a fairly young startup that wants to change all that with fully digital mortgage workflows.
Digital All The Way?
Yes. Home loans today are complex processes that require tonnes of paperwork, credit checks and a host of other formalities which have not yet been integrated into a seamless digital process.
Until now that is. Easiloan founders felt the need to transform mortgage into a bring hassle-free, all-digital experience, quite like what Indian consumers are used to with other financial products, like personal loans and credit cards.
How Does That Work?The startup's idea is to rethink the way home loans are processed - by using digital platforms for the documents, KYC, credit learning and writing, and by getting banks to do credit appraisals online.
Their tech aims to brings developers, direct selling agents (DSAs), customers, banks, and NBFCs on a single platform for end-to-end digital processing of home loans. The software also allows customers to compare and choose from shortlisted home loan options based on their profile.
Proof Of Concept?