Mobavenue allows Rs. 1000 crore loans for banks and NBFCs

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Mumbai, 29th June 2022: Mobavenue, an AI-based advertising and media buying platform, has enabled over Rs. 1000 crore loans for many large private sector banks and NBFC. The company is currently working with leading banks and NBFCs like ICICI Bank, IndusInd Bank, Kotak Mahindra Bank, KreditBee, Freecharge, Navi Finserv, Nira Finance, Fi Money, Unicard, OneCard and Policy Bazaar to generate instant loans, personal loans, home loans. loans, savings accounts, credit cards and insurance.

Mobavenue has successfully provided unique programming strategies to many banks and NBFCs by implementing dynamic creatives and other effective in-house media tools. Their advanced and cutting-edge mobile advertising solutions have optimized ROI for banks and NBFCs and helped them gain brand promotional exposure, faster conversions, better user acquisition and customer retention. .

The growing demand for personal loans is reflected in the recent CMIE economic outlook report. Outstanding personal loans between December 2021 and March 2022 increased between 2.4% and 4%, it says. With the economy emerging from the shadow of Covid-19, demand for credit has increased. The CMIE says a recovery in bank credit demand started from the second half of FY22, which analysts say looks set to continue into FY23.

“Short-term loans like personal loans and opening savings accounts, home loans, and credit card products are popular among millennials and the self-employed. Among the different types of personal loans, a increased credit card spending, home loans, auto loans, consumer durables loans and other personal loans contributed to the rise,” said Kunal Kothari, co-founder of Mobavenue Media Private Limited.

“We use technology extensively throughout the value chain to power our decision-making and improve the customer experience. We provide end-to-end service based on a fully stacked programmatic platform and help clients grow their business effectively. We are currently in talks to bring in a few other large private sector banks and NBFC,” he added.

“Mobavenue’s rapid execution of campaigns has helped KreditBee achieve its goals faster and at lower cost. The team has been nimble in supporting the execution which makes working with the team an enjoyable experience. We look forward to exploring other initiatives with Mobavenue to support our growth plans,” said Ishan Bose, CMO, KreditBee.

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