Karnataka Bank and Clix Capital collaborate via Yubi for co-lending model

Karnataka Bank (KBL), a prominent private sector bank, and Clix Capital, a rapidly growing NBFC, have forged a strategic digital co-lending alliance through YubiCo.Lend platform. This collaboration is specifically geared towards extending loans to the Indian MSME sector, a significant contributor to the country's GDP and employment. Aligned with RBI guidelines on co-lending to priority sectors, the partnership leverages Karnataka Bank's cost-effective funding, digital capabilities, and expertise, coupled with Clix Capital's robust lending tech platform and thorough due diligence. The objective is to offer seamless and cost-effective digital financing solutions, drawing on the strengths of both partners to reach underserved segments. The agreement was formalized in Bengaluru.

Karnataka Bank Limited, headquartered in Mangalore, is an Indian private-sector bank categorized as an 'A' Class Scheduled Commercial Bank. With a widespread presence encompassing 913 branches, 1188 ATMs & Cash recyclers, and 587 e-lobbies across 22 states and 2 union territories, the bank serves a customer base exceeding 11 million, facilitated by its 8,652 employees. The bank's shares are listed on both the NSE and BSE. Operating under the tagline "Your Family Bank Across India", Karnataka Bank has embraced core banking and internet banking. Additionally, it has implemented its "MoneyPlant" ATM system, consisting of 1187 ATMs & Cash recyclers and 586 e-lobbies, extending its reach nationwide.

Clix Capital functions as a lending platform catering to both individuals and businesses. The platform extends services like home loans, SME loans, and financing for machinery and equipment, including construction, medical, and office equipment. Additionally, it provides loan calculation services. YubiCo.lend, an inventive loan marketplace, is reshaping India's co-lending landscape by efficiently connecting banks and financial institutions on a unified platform. Its latest features empower originators and investors to adjust a customer's existing loan amount in alignment with the outstanding principal, facilitating the foreclosure process.