Hyderabad, November 27, 2019: Hyderabad based SRS FinTech Labs a Peer 2 Peer Lending Platform and RBI Licence holder- OxyLoans.com has
announced a specially curated four new
age Peer-2-Peer Loans Products.
While addressing a press conference, Radhakrishna Thatavarthi, CEO and Founder of SRS FinTech Labs Pvt. Ltd, who owns OxyLoans.Com platform said, these unconventional Loan Products include “UpSkill P2P Loans for Salaried IT Professionals”, “Back to Work Mothers/Mom Re-Entry Re-skilling P2P Loans”; “Start-up Working Capital P2P Loans” and “Women Education P2P Loans” These are the unique loan products exclusively developed by SRS FinTech in order to serve the changing needs of the society.
Peer-to-peer lending (P2P lending), is the process of lending money to individuals or businesses through online services that match lenders with borrowers. P2P lending is a pretty old in India and RBI issued guidelines last year and granted licenses to many firms. P2P Lending is an established business model in the west.
As more and more employers and companies are incorporating developing and new wave technologies into their workplaces, UpSkill and ReSkill have become a new mantra of survival for IT professionals in the Digital Era. Up Skilling is teaching employees or oneself a new skill/s to help grow with the same company and perform better at their jobs or to get better job prospects elsewhere.
While some companies are digitally transforming their workforce and retaining talent, many leave it to their employees. Such employees, who are already trapped badly in Home, Car Debts and other personal loans are unable to fund for their UpSkill program which costs anywhere in the range of INR 70,000/- to 2,00,000/-. Nearly 70 million new jobs of AI, Block Chain, Machine Learning, Augmented, virtual and mixed reality, Big Data Analytics, Internet of Things, Robotics, Server less Computing, Edge and Quantum Computing, Computer Vision, Data Science and other latest skills will be added in next five years. IT Professionals need to up skill or fight for survival. There is a huge need for getting trained in one of the new skills. Adding new skills to existing professionals has an added advantage. Once they UpSkill, they have a chance to double their salary informs Radhakrishna.
“We have identified another area for growth both for lenders and borrowers. It is a mutually relevant and beneficial loan product.” This product, adds Radhakrishna, “aims at moms who want to return to their job after raising their children and fulfilling their family commitments. This segment is very huge as many companies consider Back to Work Mothers as a very valuable pool of talent. Increasing mothers in the city are planning to restart their careers. It is a huge pool of talent left untapped.”
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