Insight 1

There is a growing sense of trust around digital lending

Easy accessibility coupled with flexible loan options attracts users to apps

90%

of the users liked that they could take loan anytime they wanted

70%

who had never taken a loan, said they would opt for digital lending

20%

of the users felt it was quick but still not without risks because of personal data shared

Insight 2

Users prefer apps that inform, and simplify the loan process

The step-by-step process in simple language increased explainability for all users

90%

of the users liked the multiple loan choices offered upfront even after rejection

70%

of the users wanted to know more about loans through the FAQs

60%

of the users said they understood loan process better with the app

Insight 3

Fear of sharing sensitive personal data remains high

Users felt safer when the app offered them their right to privacy

90%

of the users wanted to review ratings before sharing personal data

70%

of the users were wary of sharing sensitive data like PAN and Aadhaar

20%

of the users said they would use a Bank's app and not an unknown app