Google to Partner With Four Indian Banks to Offer Online Loans
The multinational technology giant Google is reportedly teaming up with four Indian banks for the purpose of granting consumer loans online. This move comes as the fight for a $1 trillion digital finance market is intensifying.
The banks that the largest search engine is partnering with include HDFC Bank, ICICI Bank, Kotak Mahindra Bank and Federal Bank. These banks in collaboration with Google will offer instant, pre-approved loans to customers “right within Google Pay in a matter of seconds.”
In this technology-driven era, internet giants are joining the league to provide financial services in the world’s fastest-growing mobile arena. Online lending is becoming the next big thing as mobile users look for small loans with minimal paperwork and formalities. This also helps to save ti...