Zaggle today has announced their partnership with EarlySalary, consumer lending platform for working professionals. Teaming up with EarlySalary will enable Zaggle to offer affordable credit to more than 4500 corporates catering to over 5 million users which is an integral part of their network, it said in a press release.
The digital lending space is hot and booming in India. More than 80 percent of Indian millennials are planning on acquiring personal loans for manifold reasons. With the rapid adoption of digitization, the lending landscape in India has changed substantially, and thanks to the fintech industry, India has seen a massive adoption in bringing flexibility and versatility to the younger audiences for lending.
Zaggle has an existing wide range of prepaid solutions including platforms such as Edge for gift cards, Propel for Rewards & Channel Partner Incentives, save for tax benefits for the corporate workforce and EMS for streamlining employees’ expenses. With this association, Zaggle will expand their product line and offer affordable and instant lending solutions to their existing clientele. Additionally, this partnership will be beneficial to EarlySalary in terms of extending its financial wellness program by leveraging the large user base of Zaggle especially in the corporate and the enterprise segment.
EarlySalary aims to leverage new-age technologies in the areas of data processing, AI/ML, and analytics for real-time analysis and decision-making.
Raj N., Founder and Chairman of Zaggle said, “This partnership comes at an opportune time which is in line with achieving our vision of becoming a Global Digital Bank. Zaggle has a rich and wide array of product offerings for corporates, enterprises and SME’s and we want to transcend beyond our prepaid card solutions. Collaborating with EarlySalary is one such step forward in enabling us to extend our product offerings to not just personal loans and the lending space, but to other financial products such as insurance, credit, wealth management that will take the company into newer growth areas.”
Akshay Mehrotra, Co-founder and CEO, EarlySalary said, “This partnership with Zaggle will overcome financial worries with special corporate benefits like medical loans, Salary Advances, easy repayment for a personal loan and will also reduce the stress of employees related to financial health and their productivity at the workplace and ensuring cash needs and productivity is elevated through our superior quality digital services.”
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