InPrime Finserv is a brand owned by STK Credit Private Limited, a Non-Banking Financial Company (NBFC) headquartered in Bangalore. InPrime is on a mission to “Redefine the way informal customers access formal finance.” It is focused on providing financial services to the “Prime” segment of India’s informal economy, which consists of around 50 million households with an annual credit need of Rs. 5 Lakh Crores. These households demonstrate a growth mindset, are transitioning to a less cash-dependent economy, and are gradually adopting digital technologies. They also have a proven credit and financial track record spanning several years.
InPrime’s goal is to identify this emerging segment within the informal economy and serve them with customized financial products designed to meet their evolving needs. The company plans to adopt a hybrid approach, combining the successful attributes of traditional lending with modern lending practices centered on data, digital technology, and innovation. This strategy aims to generate superior financial and non-financial value while focusing on the core elements of financial services: customer connection, engagement, and risk management.
InPrime’s lending approach will be characterised by a mix of field assessments and analysis of customers’ partially available digital footprints. This comprehensive evaluation will help determine customer needs, creditworthiness, and risk profiles. Prioritising a customer-centric focus, the company’s operations aim to offer a hassle-free onboarding experience and a swift turn-around time. InPrime seeks to empower its customers by providing multiple repayment channels and a gamified financial and digital literacy program to promote self-service.
