Credit Wise Capital enters into a co-lending partnership with HDFC Bank for two-wheeler loans

Chennai: Credit Wise Capital (CWC), a tech-driven non-banking financial company (NBFC) renowned for its expertise in two-wheeler financing, has announced a strategic co-lending partnership with HDFC Bank, India’s leading private sector bank to offer two-wheeler loans in tier 2, 3, and 4 towns of the country.

The partnership combines the strengths of HDFC Bank’s expertise to offer credit facility to the unserved or underserved sectors of the economy and Credit Wise Capital’s strong and easy loan processing tech platform for assessing potential borrowers as well as their credit profile. The partnership aims to provide seamless financing solutions, conveniently and economically in a digital manner through Twin2, a proprietary product of Credit Wise Capital.

Expressing his excitement, Mr. Aalesh Avlani, Founder and Director, Credit Wise Capital, stated, “Our strategic co-lending partnership signifies a paradigm shift in the lending landscape, bringing enhanced accessibility and affordability to two-wheeler loans, particularly in rural and semi-urban areas. By harnessing the robust network of HDFC Bank, we can extend our reach to a broader audience, empowering them to fulfill their aspirations of owning a two-wheeler through seamless access to affordable credit. We firmly believe that this partnership will unlock substantial value for our customers and fuel the growth of the two-wheeler financing market.”

Mr. Gurpreet Singh Sodhi, CEO and Co-founder, Credit Wise Capital, expressed his views, “The exponential growth of India’s two-wheeler finance market, driven by escalating demand from tier 2, 3, and 4 towns, is truly remarkable. We are thrilled to partner with HDFC Bank, the nation’s largest private sector bank, as a co-lender for two-wheeler loans. HDFC Bank’s robust due diligence process, backed by our technology, will help us turn the pivot in the lending landscape. With this partnership, we are committed to empower individuals, enabling them to effortlessly realize their dreams of two-wheeler ownership by ensuring easy access to credit.”

Mr. Prashant Patel, Exe Vice President, Capital & Commodity Markets, HDFC Bank, said, “HDFC Bank has always been at the forefront of offering innovative and customized financial solutions to our customers. Our collaboration with Credit Wise Capital aligns with our vision of expanding our reach and catering to the evolving needs of our customers. By combining our expertise and resources, we aim to make the two-wheeler loan process simpler, faster, and more convenient for individuals across the country.”

Credit Wise Capital provides effortless financial solutions through Twin2, a WhatsApp chatbot available in five different languages, including Hindi, Marathi, Kannada, Gujarati, and English. It is the first in the two-wheeler industry to use Account Aggregator (AA) for obtaining customer banking details online and an affluence score that utilizes satellite images to provide location scores for better underwriting and a streamlined turnaround time. Through this multilingual chatbot and by utilizing alternative data such as AA and the affluence score, CWC caters to tier 2, 3, and 4 cities in India, assisting customers in smaller towns who are new to credit in obtaining two-wheeler loans.

This co-lending partnership represents a significant milestone for Credit Wise Capital, highlighting a shared commitment to driving financial inclusion and empowering individuals with affordable mobility solutions.