Finzy, which is a Peer-to-peer (P2P) platform has been provided by the RBI with the NBFC-P2P certification.
The P2P industry, Finzy, makes sure that the allowance of only those players who follow certain specific standards of operations and the strict information security guidelines. It would eventually add to the reliability upon the industry.
Amit More, the Founder and CEO of Finzy, "The P2P-NBFC license is a validation of our strong business processes, Info security standards and compliance to the RBI guidelines. This is a very important milestone in enhancing our trust to investors and borrowers on Finzy. The application review process RBI adopts is extremely thorough."
According to the guidelines, now the P2P firm will have to compulsorily maintain the specific net-worth, to follow the set prudential and leverage norms, contain a fit and specific board every time and will have to also provide the surety of fair and transparent operating principles for its business.
Finzy is a company that helps to connect with verified users who seek an affordable personal loan with investors who seek an opportunity to invest in an optimised asset class by a proprietary credit assessment algorithm and granular diversification and with lesser risk.