Alok Kumar Agarwal believes that digital lending has great potential in India, especially for underserved MSMEs (Micro, Small, and Medium Enterprises) and retail customers who struggle to access traditional credit. “I see a strong digital lending system that focuses on inclusivity, giving financial access to communities often ignored by mainstream banks,” says Alok Kumar Agarwal. He adds, “My goal is not just to provide loans but to create sustainable, growth-focused solutions that meet the unique needs of these businesses and individuals. This can truly make a difference.”
To achieve this, Mr. Alok Kumar Agarwal highlights the need for alternative credit scoring methods. Traditional credit checks often exclude people without established credit histories, leaving many capable borrowers without funding. To solve this problem, he supports the use of AI-driven credit models. These tools consider alternative data, such as transaction history, utility bill payments, and even social behavior, to assess a borrower’s creditworthiness.