Online PSB Loans

About Online PSB Loans

OPL innovate, operating as Online PSB Loans (OPL), is a fintech company founded in 2015 by Jinand Vikasbhai Shah and Ronak Shah. Based in Ahmedabad, India, the company provides digital credit infrastructure solutions. Jinand Shah, a Chartered Accountant, and Ronak Shah identified a gap between Micro, Small, and Medium Enterprises (MSMEs) and banks, observing the difficulties well-credentialed organizations faced in securing funds. This led to the creation of a technology platform to streamline the lending process for both borrowers and lenders.

The company's flagship platform, psbloansin59minutes.com, was launched in 2018 and enables businesses and individuals to receive in-principle loan approval in under 59 minutes. This digital marketplace connects applicants with over 21 public and private sector banks and Non-Banking Financial Companies (NBFCs). The platform automates the lending process by integrating with various government and financial data sources, such as Goods and Services Tax (GST) returns, Income Tax Returns (ITR), and bank statements, to analyze an applicant's financial profile in real-time. This system reduces the loan processing time from weeks to days, with disbursement typically occurring within 7-8 working days after approval.

OPL operates on a B2B model, developing white-label platforms for loan processing, credit management, and account handling for banks and other financial institutions. Its revenue is generated by providing these technology solutions, which include digital onboarding, risk scoring, and credit underwriting. The company does not lend money itself but acts as a technology infrastructure provider. Key shareholders include the Small Industries Development Bank of India (SIDBI), State Bank of India, HDFC Ltd, and TransUnion CIBIL. OPL has also developed other platforms like JanSamarth, a portal linking various government credit-linked schemes, and co-developed FIT Rank, an AI/ML-based credit scoring model for MSMEs to predict default risk.