Business Model
BACKGROUND
P2P digital loan platforms aim to digitize and standardize existing informal process of money lending and borrowing among individuals. P2P digital loan platforms also aim to bring ease of process and connect a wider network of lenders and borrowers by leveraging internet technology.
P2P digital loan platforms can provide better returns to lenders over banking deposits by lowering processing cost while it can also help provide coverage to those borrowers who are not covered by traditional banking system.
ALPHAMONEY (CREDITECH SOLUTIONS PRIVATE LIMITED) BUSINESS MODEL
AlphaMoney (Creditech solutions private Limited) provides a safe and robust digital platform to connect lenders and borrowers enabling loan transactions between them.
All borrower applications are put through stringent credit and quality checks before being made available on the platform to ensure lenders are exposed to a high-quality basket of borrowers. Borrowers may be sourced via multiple channels including channel partners.
AlphaMoney (Creditech solutions private Limited) focuses heavily on identity verifications, credit checks and diversification of lenders funds to reduce risks to parties involved in the transactions. All borrowers and lenders are mandatorily required to enter into an agreement, which captures the terms and conditions of the loan, repayment period, rate of interest etc.
Lenders lend funds through a lender dashboard, which allows them to monitor their lending and keep track of their portfolio. To reduce the time involved in selecting/curating borrower applications, lenders are free to define their lending criteria, such that only borrowers meeting the criteria are allocated to them via AlphaMoney (Creditech solutions private Limited) proprietary algorithm.
In line with RBI master directions, all transactions on the platform flow via an escrow account, monitored by a bank - sponsored trustee. The funds brought into the escrow account are subsequently disbursed to the borrowers only on completion of loan agreement signing between transacting parties.
The platform earns income by charging processing and other types of fees on loans disbursed through the platform.
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Disclaimer : Reserve Bank of India does not accept any responsibility for the correctness of any of the statements or representations made or opinions expressed by Creditech Solutions India Pvt. Ltd, and does not provide any assurance for repayment of the loans lent on it. Creditech Solutions Pvt Ltd (alphamoney.in) is having a valid certificate of registration dated December 30th 2021 issued by the Reserve Bank of India under Section 45 IA of the Reserve Bank of India Act, 1934. However, the RBI does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or the opinions expressed by the company and for repayment of deposits / discharge of liabilities by the company.
The information contained herein is only to enable the Lender to make a considered decision. Any decision taken by the Lender on the basis of this information is the sole responsibility of the Lender and ALPHAMONEY is not liable. This information does not include any sensitive personal data or information of the Borrower. ALPHAMONEY only facilitates a virtual meeting place between the Borrowers and the Lenders on its online platform. The decision to lend is entirely at the discretion of the Lender and ALPHAMONEY does not guarantee that the Borrowers will receive any loans from the Lenders. ALPHAMONEY merely aids and assist the Lenders and the Borrowers listed on its website to make and receive loans and charges a service fee from the Lenders and the Borrowers for such assistance. ALPHAMONEY is only an ‘Intermediary’ under the provisions of the Information Technology Act, 1999.