A New Credit Era: Building Trust and Inclusion Through Technology Bharat Soni, Co-Founder at Ram Fincorp

India’s lending landscape is witnessing a digital revolution where technology meets financial inclusion. At the forefront of this change stands Ram Fincorp, a company redefining how underserved borrowers access credit. In conversation with The CEO Magazine, Mr. Bharat Soni, Co-Founder of Ram Fincorp, shares insights into how the company is leveraging artificial intelligence, data-driven decision-making, and a customer-first approach to build a more inclusive and resilient financial future for India.

TCM: The Indian lending and consumer finance sector is undergoing rapid transformation. How does Ram Fincorp see itself positioned in this evolving landscape?

Mr. Bharat: The Indian consumer finance and lending industry is changing and transforming at a very fast pace, driven by regulation, technology, and shifting consumer demands. As Ram Fincorp, we believe that we are at the forefront of this new age revolution, and our business is focused on lending to underserved borrowers who were previously neglected by traditional banks. This is where we come in, and our risk assessment models based on machine learning and our utilization of alternative data enable us to assess the creditworthiness of customers and individuals with limited or no CIBIL score. 

We approve more than 40% of applications in minutes, providing speed, transparency, and inclusion way beyond the industry standards. With the development of the finance industry, we are becoming a serious lending brand that is fast, inclusive, and dependable. We believe that our customer-centric approach, user-friendly digital experience, and transparency drive us to shape the future of lending in India and promote long-term financial inclusion.

TCM: What unique customer pain points is Ram Fincorp addressing that traditional banks and NBFCs often fail to resolve?

Mr. Bharat: Traditional banks and NBFCs often follow rigid credit assessment models that include lengthy paperwork and long approval cycles, and NBFCs fail to deliver timely funds, and customers also face hidden charges or unclear repayment terms from NBFCs and banks. At Ram Fincorp, we provide a fully digital and paperless process that ensures near-instant approvals. We guarantee quick disbursal of loans, transparent pricing, and complete clarity on payment structures. By combining alternative data with machine learning-driven risk assessment, we extend fair and accessible credit to underserved borrowers. Customers will benefit from interest rates, repayment rates, and zero hidden charges, making borrowing a transparent and empowering experience.

TCM: With the rise of fintech adoption and digital-first solutions, how is Ram Fincorp leveraging technology such as AI, instant approvals, and digital underwriting to stand out?

Mr. Bharat: In order to provide a smooth borrowing experience, we have built our model on innovation driven by technology. The platform allows access for first-time borrowers, gig workers, and individuals underserved by traditional bank systems by evaluating creditworthiness using risk assessment models driven by AI and machine learning in addition to traditional CIBIL scores. Because of this, we can now approve more than 40% of applications in a matter of minutes, saving clients from having to wait a long time at traditional banks and NBFCs.

The entire procedure is paperless and digital, and it is made to be simple and uncomplicated. Interest rates and repayment rates are fully transparent, and there are no unstated fees. In a rapidly changing digital-first solution, we aim beyond disbursing loans. We want to create long-term financial inclusion by helping users to start or build their credit journeys responsibly. With this vision, we not only meet urgent financial needs but also empower millions of people to build a stronger, more secure financial future. 

TCM: Financial inclusion is a national priority. How is Ram Fincorp contributing to bringing underserved individuals and SMEs into the formal credit ecosystem?

Mr. Bharat: Financial inclusion is a national priority, and we are dedicated to bringing underserved individuals and SMEs into the formal credit ecosystem. Traditional banks and NBFCs often exclude first-time borrowers, gig workers, and small businesses due to low or no CIBIL score. We at Ram Fincorp address this gap by using AI and machine learning-powered risk assessment models that evaluate the creditworthiness of the user. For instance, research indicates that machine learning (ML) introduces a transformative approach to credit risk assessment, allowing for greater predictive accuracy and the ability to incorporate large, complex, and diverse datasets. 

By offering a fully digital, paperless process with instant approvals, transparent interest rates, and clear repayment terms. We ensure responsible borrowing while building long-term financial inclusion, empowering individuals and SMEs to participate fully in India’s formal credit system. 

TCM: Many customers equate instant credit with credit cards. How is Ram Fincorp’s offering different from a traditional credit card in terms of repayment flexibility, interest structure, and customer value?

Mr. Bharat: While customers associate instant credit cards with traditional credit cards, our offerings are fundamentally different in design, flexibility, interest structure, and customer value. We provide transparent, personalized repayment plans that suit individual cash flows. Borrowers can choose flexible EMIs, aligning repayments with their income cycles, reducing financial stress, and promoting responsible borrowing. The interest structure is clear and competitive, with no hidden charges, ensuring customers know exactly what they owe from the outset. Unlike credit cards that encourage revolving debt, our model focuses on short-term, goal-oriented lending, helping users meet specific financial needs while building or rebuilding their credit profile.

Additionally, the fully digital, paperless process ensures near-instant approvals, giving customers timely access to funds without the cumbersome approvals typical of banks or credit card issuers. This combination of speed, flexibility, transparency, and credit-building value differentiates our solution from traditional credit cards.

TCM: With UPI transactions crossing record highs and India moving rapidly towards a cashless economy, what role do you see Ram Fincorp playing in this digital finance revolution?

Mr. Bharat: According to the National Payments Corporation of India, the total number of transactions stood at 20.01 billion, marking a 34 percent year-on-year increase from 14.9 billion in August last year. UPI has also registered transactions of 24.85 lakh crore rupees in August this year, which represents a 24 percent increase year-over-year. The average daily transaction count in August has reached 645 million. 

We are at the forefront of this digital finance revolution, using technology to enhance financial inclusion. By utilizing AI and machine learning-powered risk assessment models, we evaluate creditworthiness beyond traditional CIBIL scores, enabling access for first-time borrowers, gig workers, and small businesses often underserved by traditional banks. The platform is fully digital and paperless, offering instant approvals, transparent interest rates, and clear repayment terms. Through these solutions, we provide timely, accessible, and responsible credit, empowering individuals and SMEs to participate fully in India’s cashless economy.

TCM: Looking ahead, what new financial products or innovations is Ram Fincorp exploring to align with emerging consumer trends like “Buy Now, Pay Later” or subscription-based financing?

Mr. Bharat: Looking ahead, we are actively exploring innovative financial products to align with emerging consumer trends. In terms of future developments, we are eager to develop flexible financial products that fit new consumer behaviours such as “Buy Now, Pay Later” (BNPL) and subscriptions as forms of financing. Recognizing the growing demand for flexible and responsible credit options, we aim to offer solutions that allow consumers to manage cash flows without incurring traditional high-interest debt.

Advances in 'AI and machine learning' enhance 'risk assessment,' and we can structure BNPL and subscription offers with personalized payment plans that are predictable and align with customers’ cash flow and financial habits. These products are designed to cater to salaried professionals, gig workers, and SMEs, helping them access goods, services, and working capital in a way that aligns with their income cycles. Through these innovations, we continue to expand financial inclusion while enhancing convenience, flexibility, and customer empowerment in India’s evolving digital finance landscape.