OpenTap is a peer-to-peer lending platform incubated by professionals with over 40 years of combined experience in the financial services industry. OpenTap provides a range of loan products which are not currently available in the traditional banking industry. Consequently investors get access to a new asset class to invest in.
OpenTap is not a financial institution regulated by RBI. OpenTap is a platform that operates as a marketplace to bring investors to lend to borrowers.
Customers who require a loan, furnish personal details along with electronic versions of required financial documents like bank statements, pay slips and ID proof. Loan processing is completely automated and the process begins as soon as the customer provides all the details.
When all documents are received, a loan application becomes visible for all the investors along with pertinent data about the borrower. Investors bid for the loan and provide their best quotes. The bidding process lasts for 24 hours and the cheapest quote wins. The borrower is informed via e-mail and SMS about the quote along with updates in the website.
Hundreds of millions of creditworthy Indians have legitimate credit needs that are overlooked or underserved by the traditional banking and credit card companies. For customers who have a solid capability to repay, despite the low risk of lending to that pool of borrowers, the traditional banking sector has no product to offer. Several of your employees fall into the same category – they are credit worthy, but are not entertained by banks.
When these employees are faced with emergencies, as an employer - you want to be able to help. But when the demand grows and the number of employees that need help increases, you find it difficult to cater to every single request.
In partnership with OpenTap, you can now bring those credit facilities to each and every one of your employees.
Employee benefit program for all your employees, at no cost to you
Increased employee motivation & retention
Increased employee productivity
Regulation of working capital outflow
Sign up as an employer partner with OpenTap
Furnish required details
Conduct awareness program with employees
Help verify employee details as and when required
All employees who have a regular pay slip month on month can sign up
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