Why Commercial Banks Are Worried About Cashify


There exists a status quo, until it is challenged by revolutionising trailblazers. Every now and again, such a trailblazer comes along and turns the whole market upside down. This is normal, and it has to happen in order for us to grow. However, those who are on the other end of the change will usually contest it to the very end. This is exactly what the financial institutions of today are doing with the likes of Cashify. Cashify is a relatively new application that has emerged, and it has commercial banks looking scared! There are many reasons for this. It provides the services that they do in a more comfortable manner, it provides loans, and it is portable, what is not to love! We as a people are growing more and more towards the idea of convenience, and this means that we are moving further and further away from traditional means of operating. It is a tough sphere to survive in, but the business world is changing, and businesses must either change with it or be left behind. This is exactly what Cashify is forcing these banks to do, and here is how.

Cashify are Revolutionising the Loan Process

In the past, the application process to request a loan was an arduous process. It took a long time, and you needed a lot of documentation. This process only got worse following the financial collapse of 2008. Banks were giving money out for nothing to high-profile developers, they were negligent in what they were doing, and the average person had to pay as a consequence, what a surprise! However, to circumvent this, many people are now turning to Cashify loans. This loaning system is allowing people the chance, a realistic chance, to secure a loan. This may be for the business you have always wanted to start, your first car or for the down payment on your first home. Depending on how much you need, Cashify will have an option for you. Why not make an appointment with a Cashify representative today to discuss how this process works and what you may be entitled to loan based on their criteria? You will not regret it!

The Need For Credit is Not As Important

Financial institutions usually refuse loan applications for what is known as a credit rating. This is how likely you are to repay the debt. This credit score is not as important when it comes to getting a loan with Cashify. For more information on credit ratings, look here.

Sending Money like Never Before

Sending money through traditional financial institutions can be a lengthy process. There may be hidden fees for sending to certain banks. To add to this, there may be a long delay in the sending of the money if you are trying to send it to a bank account with a different institution than your own. Say hello to Cashify and goodbye to lengthy waits. With Cashify, the money you send will arrive instantly. You will receive a notification once you hit send that the money has been received in the recipient’s account. This is the future, and it is an absolute convenience. It is why many people are using Cashify, and less people are using banks.

Hopefully you will have a better idea why commercial banks fear Cashify. Many have begun proceedings to try and lobby the app at a legal level. They knew that they could not compete. Look to this site for more information on loans in general.