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SimplyCash asks customers to be vigilant before downloading instant loan apps, and remember warning indicators

New DelhiAnd January 14 2022 /PRNewswire/ — In the backdrop of the RBI working group’s disclosure that it has identified more than 600 fraudulent lending applications, it is appropriate to understand the key warning indicators that should raise the warning flag for any potential borrower. The same sentiment is also shared by SimplyCash (Instant Personal Loan App powered by Hero Fincorp), who strongly urged everyone to be careful while applying for instant personal loan from mobile apps.

SimplyCash, one of the most trusted apps on the market today, has asked customers to be careful before sharing data with unknown instant cash loan apps and respond to these warning signals –

  • Fake apps don’t care about credit history and happily accept applications from people who have bad credit history as well.
  • Fake lending apps usually flood potential customers with text messages or emails to pressure them to apply right away.
  • The majority of scam lenders are only visible on the download store and do not have a physical address.
  • The websites of fictitious lenders are not encrypted, and the padlock icon is missing on the pages where customers are asked to provide their information.

Here’s what makes SimplyCash the safest lending companion

SimplyCash takes the security of its customers’ data very seriously. Here are the six safe shields she uses to protect her clients.

  • Multiple authentication including OTP

SimplyCash has deployed two-factor authentication in their app. This means that when the details are entered by the customer, an OTP will be sent to the registered email ID or mobile number, eliminating the chances of a fraudulent loan application.

Unlike fake apps, SimplyCash uses a granular role-based access system. This means that when a customer requests something, such as a late statement, an amendment to their personal information, or something else, only the authorized system can access that specific request and perform that specific task.

Using an unencrypted method to store data is one of the most common methods fake loan apps use to put customer data at risk. SimplyCash uses HTTPS to hide the data exchanged on their platform.

  • Maker Checker for all configurations:

To ensure that customer data remains safe and secure, SimplyCash has a specific set of rules and workflows for all configurations. The auditor maker principle process ensures that specific implementation is handed over to the appropriate administrator.

SimplyCash keeps the customer away from the stress of failed transactions by performing audit control over transaction processing and configuration.

A bankable credit champion that millions can trust

According to a survey conducted by SimplyCash six months ago, 51% of their customers chose SimplyCash because they trust the Hero Fincorp brand name. This also proves that while customers wanted convenience, brand trust was still important to them while availing the loans. The credibility of the app can also be seen in the fact that it has a customer base of over 2 million users and has managed to spend Rs. 200 crore In 10 months.

About Simply Cash

SimplyCash, powered by Hero FinCorp, is an instant personal loan app that provides cash loans of up to 1,50,000 rupees to both salaried and self-employed individuals. Driven by technology and powered by innovation SimplyCash mobile app is available on Android play stores like Google Play Store, Samsung Store, Xiaomi Store etc. Currently SimplyCash offers its services in more than 90 major locations in India. It is a duly registered trademark and is a loan product offered, managed and operated by Hero FinCorp.

About Hero FinCorp

Financing made easy. Three simple words lead India Ultra-soft next-generation credit champion – Hero FinCorp Limited. merged into December 1991 Like Hero Honda FinLease Limited. From March 2021, Hero FinCorp, on a consolidated level, has accessed assets under management of ₹ 27,464 crores.

Source SimplyCash

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