MUMBAI: Online peer to peer lending platform Monexo has introduced the “auto-invest” feature on its platform. Through this feature, the lenders on Monexo’s platform can automate their entire lending process by setting up their auto-invest rules in 2 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.
More than 90% of Monexo’s customers have expressed their interest in using “auto-invest” feature and hence it has been made available to the customer much earlier than Monexo had actually planned said the company in a statement to the press.
The customer can change the rules set by him as per the risk-return ratio he is comfortable with and Monexo’s platform would immediately bring the new rules into effect.
“It is virtually impossible for our customers to stay online at all times anticipating an apt lending opportunity. With Monexo, they can now set the rules and leave the rest to our “auto-invest” feature. 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. This also ensures that the borrowers can get funded quickly,” said Mukesh Bubna, chief executive, Monexo.