This looks like a very exciting initiative.
It covers 2 major pain points for gold loan industry:
- The opex in evaluation is a considerable expense for the lender
- The borrower has to spend considerable time physically at the branch for disbursement.
“With GoldPe | APM, they can get their gold loan instantly, safe and secured within less than 8min & 24x 7. Customers can deposit their gold in the machine, which then uses AI technology and Gold / Metal Analyzer to assess the Purity, Quality and Weight of the gold. The AI system will weigh the stone and gold weight separately, and based on this assessment; the machine instantly disburses the loan amount”
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