New-age online lenders +Manners used to make a man, now they make a loan. Their algorithms can run through tonnes of data in minutes to assign a personality score, which is the measure of a borrower's reliability. While online market places like CreditMantri and BankBaza ar.com act as facilitators for consumers to access bank loans at competitive rates, app-based lenders tie up with an NBFC to provide loans. Online lenders consider an applicant's Facebook followers and LinkedIn connections. "Just like Ola, Uber, Swiggy, other mobile apps request permission before accessing mobile data, we also get the consumer's permission to access mobile content.

Source: Times of India October 23, 2016 23:47 UTC