Mobavenue enables Rs. 1000 crore loans for banks and NBFCs
Mumbai : Mobavenue, an AI-based advertising and media buying platform, has enabled over Rs. 1000 crore loans for many leading private sector banks and NBFCs. 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 drive instant loans, personal loans, home loans, savings accounts, credit cards and insurance.
Mobavenue has successfully provided unique programming strategies to numerous banks and NBFCs by implementing dynamic creatives and other efficient in-house media tools. Their cutting-edge, advanced mobile advertising solutions have optimized the ROI of banks and NBFCs and helped them achieve promotional brand exposure, faster conversions, improved user acquisition, and customer retention.
The growing demand for personal loans is reflected in CMIE’S recent Economic Outlook report. Outstanding personal loans between December 2021 and March 2022 increased between 2.4 per cent and 4 per cent, it says. With the economy coming out of the shadow of Covid-19, the demand for credit has been growing. CMIE says a revival in demand for bank credit commenced from the second half of FY22, which, according to analysts, seems to be continuing into FY23.
“Short term loans like personal loans and opening of savings accounts, home loans and credit card products are popular among millennials and the self-employed. Of the various types of personal loans, an increase in credit card spending, housing loans, vehicle loans, loans for consumer durables and other personal loans have contributed to the surge,” said Kunal Kothari, Co-Founder, Mobavenue Media Private Limited.
“We use technology extensively across the value chain to power our decision making and enhance customer experience. We provide an end-to-end service based on a completely stacked programmatic platform and help the clients grow their business efficiently. We are currently in talks to on-board a few other leading private sector banks and NBFCs,” he further added.
“Mobavenue’s swift execution of campaigns had helped KreditBee to reach its objectives faster and cost effectively. The team has been agile in its execution support which makes working with the team a pleasant experience. We look forward to exploring more initiatives with Mobavenue to support our growth plans,” said Ishan Bose, CMO, KreditBee.