Since we are already deployed on a digital platform end-to-end, all loan origination, disbursal, MIS, dashboards and collections are at the click of a button. Our on-field loan origination staff are quite digitally literate, helping us become more paperless while interacting with customers and partners.
Despite people’s perception of “going digital”, not everything is actually digital. The journey has to start somewhere right? Example, through an ID number, voter ID, Aadhar Card number etc. For instance, companies like us do a digital capture of these KYC identity documents from customers, but because our clientele are not fully digitally literate, we still have to go through some paperwork during the origination process.
Digitalization in the sense of storing, transferring, analysing customer data and submitting to the credit bureaus if fine, but for our client persona, we still need to see some ID, check some physical documents, maybe even visit their home.