Chennai, NFAPost: Online gold loan company RupeekFintech has officially launched its new offering RupeekZ, a zero contact gold loan kiosk, to help carry out gold loans safely in the backdrop of the current COVID-19 pandemic by eliminating human touch during the process of loan disbursals.

The unique kiosk uses germicidal technology to expose the gold ornaments to UVC light in a closed box to get rid of germs and viruses to the extent of 99.9% and is designed in such a way that there is zero contact between the borrower and the staff, the company said.

The technology will make it possible for everyone to avail a gold loan safely during the pandemic with the kiosk. In response to COVID-19, Rupeek will be installing this kiosk at multiple locations across the country starting with Bengaluru, Chennai, Hyderabad and Mumbai in phases to ensure easy flow of credit to the businesses and help them get back on their feet.

“In-line with Rupeek’s innovative solutions for gold loans for the borrowers and the banks, Rupeek wanted to come up with a safe way of pledging gold. We gathered input from our customers and partners, iterated through multiple prototypes, all within the last couple of months and are very happy to present the RupeekZ kiosk. We hope that we create an environment of safe and easy credit for our customers, banking partners and employees alike,” said RupeekFintech Head of Lender Partnerships Prasad Shahane.

The technology is completely indigenous, flexible and scalable enough to be installed across the country in a short span of time, it added.

RupeekFintech is the fastest growing, asset-backed online lending platform founded in 2015. Rupeek aims at disrupting the gold loan industry in the country. Rupeek has raised $60 million from Bertelsmann India, Sequoia Capital and Accel Ventures. With an intent to deliver simplicity and transparency in the industry, Rupeek leverages technology to operate with a branchless model and offers the advantage of lower operational costs to the customer.

Rupeek’s transparency and higher loan to value (LTV) has made its presence big in 11 cities including Bengaluru, Surat, Jaipur, Kolkata, Mumbai, New Delhi, Chennai, Ahmedabad, Hyderabad, Coimbatore and Pune. It is looking to expand further in coming months. Headquartered in Bengaluru, Rupeek disburses close to Rs 200 crore loan a month and is growing exponentially. Rupeek is on a mission to monetise India’s $1 trillion gold.

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