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


NEW DELHI, Jan. 14, 2022 /PRNewswire/ — Against the backdrop of the RBI task force’s disclosure that it had identified over 600 fraudulent loan applications, it’s pertinent to understand what the warning flags of basis which should set off a red flag for any potential borrower. The same sentiment is also shared by SimplyCash (the instant personal loan app powered by Hero Fincorp), which strongly urged everyone to be mindful when applying for an instant personal loan from mobile apps.

SimplyCash, one of the most trusted apps in the market today, urged customers to be careful before sharing data with unknown instant money lending apps and heed these warning signs – • Fake apps don’t care about credit history and gladly accept applications from people. with bad credit history too.

• Fake loan applications usually inundate potential clients with text messages or emails to entice them to apply immediately. • The majority of fraudulent lenders are just visible on the download store and do not have a physical address.

• Fake lenders’ websites are not encrypted and the padlock icon is missing from pages where customers are asked to provide their information.

Here’s what makes SimplyCash the most secure loan companion SimplyCash takes the security of its customers’ data very seriously. Here are the six secure shields it uses to protect its customers. • Multiple authentication, including OTP SimplyCash has deployed two-factor authentication in its application. This means that when the details are entered by a customer, an OTP will be sent to the registered email id or mobile number, thus removing the chances of submitting a fraudulent loan application.

• Granular RBAC: Unlike fake apps, SimplyCash uses a granular role-based access system. This means that when a customer requests something, such as an overdue statement, a change to their personal information, or anything else, only the authorized system will have access to that particular request and perform that specific task. • Data over HTTPS Using an unencrypted way of storing data is one of the most popular methods fake lending apps use to compromise customer data. SimplyCash uses HTTPS to mask the data exchanged on its platform.

• Maker Checker for all configurations: To ensure customer data remains safe and secure, SimplyCash has a defined set of rules and workflows for all configurations. The principle process of the manufacturer verifier ensures that the specified execution is delivered to the correct administrator.

• Audit Control SimplyCash relieves the customer of the stress of failed transactions by running an audit control on transaction processing and setup.

A champion of bankable credit trusted by millions According to a survey conducted by SimplyCash six months ago, 51% of its customers choose SimplyCash because they trust the Hero Fincorp brand. It also proves that even though customers are looking for convenience, brand trust was still important to them when availing loans. The reliability of the app can also be seen in the fact that it has a customer base of over 2 million users and successfully shelled out Rs. 200 crores in 10 months.

About SimplyCash Powered by Hero FinCorp, SimplyCash is an instant personal loan app that provides cash loans of up to ₹1,50,000 for salaried and self employed. Driven by technology and fueled by innovation, SimplyCash mobile app is available on Android play stores such as Google Play Store, Samsung Store, Xiaomi Store, etc. SimplyCash currently offers its services in over 90 major locations in India. It is a registered trademark and loan product offered, managed and operated by Hero FinCorp.

About Hero FinCorp Finance Made Easy. Three simple words that drive Hero FinCorp Limited, India’s next-generation ultra-lean credit champion. It was incorporated in December 1991 as Hero Honda FinLease Limited. By March 2021, Hero FinCorp on a consolidated level had reached assets under management of ₹27,464 crore.


(This story has not been edited by the Devdiscourse team and is auto-generated from a syndicated feed.)

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