Monexo to offer 'auto-invest' feature for customers

Hong-Kong based Monexo Innovations, the latest entrant in peer-to-peer lending space, today said it has decided to bring global best practices in India by offering 'auto-invest' feature, which will help in empowering its customers with speed, flexibility and control.

"We understand our customers and their fast-paced lives. It is virtually impossible for them to stay online at all times anticipating an apt lending opportunity. They can now set the rules and leave the rest to our 'auto-invest' feature," Monexo CEO Mukesh Bubna said in a statement.

"Based on their inputs, our algorithm and data science engine will ensure that the customer's money is invested in the opportunity as per the risk-return parameters set by him," he said.
 

This also ensures that borrowers can get funded quickly. Speed & simplicity of Monexo processes will contribute significantly to its growth and in turn Indian P2P lending market, Bubna said.

More than 90 per cent of Monexo's customers have expressed their interest in using the 'auto-invest' feature and hence, it has been made available to the customer much earlier than it had actually planned, he added.

Monexo is eyeing major share in the peer-to-peer lending business having potential of growing to Rs 10,000 crore in the next five years. The company is targeting Rs 300 crore business in the first year of operations.

Peer-to-peer lending (P2P) is growing rapidly in the US, Britain and China. Today, it is an industry where banks and P2P lending marketplaces are partnering.

Monexo believes that auto-invest is the way forward for P2P lending in India as it empowers the customer with speed, flexibility and control.

A customer using the auto-invest feature would never miss an opportunity to lend even when he is not online. The customer can change the rules set by him as per risk-return ratio he is comfortable with and Monexo's platform would immediately bring the new rules into effect.

Through this feature, the lenders on Monexo's platform can automate their entire lending process by setting up their auto-invest rules in two simple steps.

Lenders select the maximum funding per borrower and desired portfolio allocation across M1 to M8 rating based on their desired risk-return criteria, Bubna added.