About
PrimeAgrim is an innovative digital nano loans service to support the lives of the working poor particularly blue-collar workers using alternative credit scoring technology.
Innovation presentation
Prime Bank Limited partnered with AGAM International, a fintech platform based in the UK, to launch PrimeAgrim, the advanced digital lending solution. The objective of the partnership is to create a digital lending platform powered by Prime Bank's products and AGAM's digital platform for the low-income community of Bangladesh. This is a remarkable initiative to provide financial support for emergency situations of the underserved blue collar working community.
Uniqueness of the project
Backed by Prime bank’s beneficiary friendly and market leading digital loan products, PrimeAgrim uses advanced Artificial Intelligence (AI) and Machine Learning (ML) algorithms to determine Alternative Credit Scoring of the potential beneficiaries for their credit eligibility. Beneficiaries can apply for credit using their smart phones on the go and by answering some psychometric questions and judging their existing financial profile, their credit worthiness is assessed digitally and the credit is disbursed to their tagged bank account without any hassle. The complete customer journey is very user friendly, easy to understand and fully digital. Features of PrimeAgrim:
• Instant salary advance up to USD 120 for blue-collar workers
• Payable on next salary day
• Alternative way of analysing credit worthiness
• Promote financial literacy
• No financial transaction history required
• Simple, easy and fully digital loan
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