Pune, August 2nd, 2022: Loan Tap, a digital lending fintech platform, launches a public awareness campaign, “Fraudulent Loans,” through digital and social media platforms and their application to educate users and young millennials and Gen-Zs on the market’s fake digital lending applications.

Through this awareness campaign, LoanTap aims to send a strong message to the millennials and Gen-Zs audiences to avoid making any refundable advance payments in the name of loan processing fees, GST, verifications, and so on, and to only verify any loan offers on the RBI registered fintech app.

LoanTap’s app and social media channels are now live with this awareness campaign. The brand has also collaborated with influencers from different genres to create compelling reels on the topic, reaching a larger audience. To reinforce the brand’s commitment, they also publish articles and actively collaborate with other financial groups like, FACE to raise awareness of these fake loan applications.

Moreover, Mr. Satyam Kumar, the CEO, engaged in a discussion on the show Consumer Adda on CNBC Awaaz where he gave advice on how to avoid these bogus lending applications. He mentioned, “It is very important for LoanTap, as one of the prominent players in the digital lending business, to help consumers stay aware, alert, and financially safe.”

As a key player in the financial services space, the safety and protection of borrowers and policyholders is critical for the brand, and it is frequently necessary to educate and assist customers in recognising these cyber risks, the mode of operation of fraudsters, and some quick steps to take in order to stay protected.