{"id":19705,"date":"2022-01-03T03:08:59","date_gmt":"2022-01-03T03:08:59","guid":{"rendered":"https:\/\/habiletechnologies.com\/?p=19705"},"modified":"2022-07-19T07:43:53","modified_gmt":"2022-07-19T07:43:53","slug":"lending-companies-can-disburse-the-loan-in-10-mins","status":"publish","type":"post","link":"https:\/\/wiki.cloudbankin.com\/index.php\/2022\/01\/03\/19705\/lending-companies-can-disburse-the-loan-in-10-mins\/","title":{"rendered":"How Lending Companies can disburse the loan in 10 mins"},"content":{"rendered":"<p>[vc_row][vc_column][vc_single_image image=&#8221;19746&#8243; img_size=&#8221;medium&#8221; alignment=&#8221;center&#8221;][vc_column_text]<span style=\"font-weight: 400;\">Technology has woven its magic in the 21st century across innumerable sectors, many of which have benefited from different aspects of their businesses: customer outreach, resource planning, and speed of product\/service delivery to name a few. Along these lines, the burning question among banks and NBFCs (non-banking financial companies) is &#8211; when you can get your food, grocery, insurance in less than 10 minutes these days, the question arises &#8211; why not loans?<\/span><br \/>\n<span style=\"font-weight: 400;\">We talked to <\/span><span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/in.linkedin.com\/in\/gorav-gupta-b094a612\"><span style=\"font-weight: 400;\">Gorav Gupta<\/span><\/a><\/span><span style=\"font-weight: 400;\"><span style=\"color: #0000ff;\">,<\/span> Founder and Director at DigiMoney Finance Private Limited about how it is possible to scale such an implausible feat. Tune in to the episode or read our conversation below to learn how to disburse the loan in 10 mins.<\/span><\/p>\n<div style=\"text-align: center;\"><iframe loading=\"lazy\" title=\"YouTube video player\" src=\"https:\/\/www.youtube.com\/embed\/bltd2K5rITs\" width=\"550\" height=\"300\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/div>\n<p>[\/vc_column_text][vc_empty_space height=&#8221;25px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"CIBIL\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/10\/mani-profile.jpg\" alt=\"Mani\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Mani Parthasarathy<\/h4>\n<p><em><strong>Hi Gorav, and thanks a lot for your valuable time. Can I start by asking you, your take on the traditional way of lending?&nbsp;<\/strong><\/em><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_empty_space height=&#8221;12px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_empty_space][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-19708\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2021\/12\/Gorav-300x300.jpg\" alt=\"Gorav Gupta\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Gorav Gupta<\/h4>\n<p><span style=\"font-weight: 400;\">The <span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/habiletechnologies.com\/blog\/traditional-lending-company-vs-fintech-lending-company-in-australia\/\">traditional way of lending<\/a><\/span> that most of us have been witnessing over many years is a manual and time-consuming process that comprises 3 predominant steps &#8211; application &amp; KYC, underwriting, and disbursement. Traditional lending also follows the 4 C\u2019s approach &#8211; Character, Collateral, Credit, and Capacity &#8211; which can get quite cumbersome, subjective, and not driven based on data.<\/span><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_empty_space height=&#8221;15px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"CIBIL\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/10\/mani-profile.jpg\" alt=\"Mani\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Mani Parthasarathy<\/h4>\n<p><strong><em>What was the reason behind starting <\/em><span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/digimoneyfinance.com\/\">Digimoney<\/a>?<\/span><\/strong><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_empty_space height=&#8221;12px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_empty_space][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-19708\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2021\/12\/Gorav-300x300.jpg\" alt=\"Gorav Gupta\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Gorav Gupta<\/h4>\n<p><span style=\"font-weight: 400;\">Let me go back to 2008-09 when we started AccSource, our other venture that is into KPO (<\/span><span style=\"font-weight: 400;\">Knowledge Process Outsourcing)<\/span> <span style=\"font-weight: 400;\">business with an Australian market focus. After the company was set up and settled, we turned our eyes to India to try and take advantage of the millennial demographic, which is 34% of the current workforce. After scoping for sectors to venture into, we zeroed in on Tech Finance, one of the most happening places these days. The main motive behind starting Digimoney is to make financial services more accessible to individuals and SMB\u2019s that have limited access to finance.<\/span><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_empty_space height=&#8221;15px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"CIBIL\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/10\/mani-profile.jpg\" alt=\"Mani\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Mani Parthasarathy<\/h4>\n<p><em><strong>Gorav, what do you think are the challenges plaguing traditional lending services?<\/strong><\/em><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_empty_space height=&#8221;12px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_empty_space][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-19708\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2021\/12\/Gorav-300x300.jpg\" alt=\"Gorav Gupta\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Gorav Gupta<\/h4>\n<p><span style=\"font-weight: 400;\">I haven\u2019t been a provider of traditional finance, but I\u2019ve been a user of the service. I\u2019d like to highlight 3 significant challenges here:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Extensive Paperwork<\/b><span style=\"font-weight: 400;\">: So you have loan application documents, KYC requirements, etc. For simply opening a bank account, customers need to run through and sign stacks of papers.&nbsp;<\/span><\/li>\n<li aria-level=\"1\"><b>Prolonged Waiting Time<\/b><span style=\"font-weight: 400;\">: Since traditional lending relies on data not readily available like credit score, lending history, salaries, bank balance, etc. it takes quite a bit of time. Customers only want to know one thing in lending &#8211; whether their application is accepted or rejected.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Human Bias &amp; Manual Judgement<\/b><span style=\"font-weight: 400;\">: Traditional finance also relies on the physical presence of the individual at a branch to give judgment. That\u2019s why when you go to one lender, your application (based on paperwork\/presence) may be rejected, and when you go to another lender, your application may be approved.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_empty_space height=&#8221;15px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"CIBIL\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/10\/mani-profile.jpg\" alt=\"Mani\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Mani Parthasarathy<\/h4>\n<p><em><strong>These points trigger some curiosity: how can I as a traditional lender &#8211; bank or NBFC turn digital?<\/strong><\/em><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_empty_space height=&#8221;12px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_empty_space][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-19708\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2021\/12\/Gorav-300x300.jpg\" alt=\"Gorav Gupta\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Gorav Gupta<\/h4>\n<p><span style=\"font-weight: 400;\">I\u2019d say the first step towards switching to digital finance is embracing e-KYC technologies which use a digital onboarding process as opposed to a pen-and-paper approach. <\/span><span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/www.hdfcfund.com\/information\/central-know-your-customers-ckyc\"><span style=\"font-weight: 400;\">C-KYC<\/span><\/a><\/span><span style=\"font-weight: 400;\"><span style=\"color: #ff0000;\">,<\/span> which uses blockchain technology to centralize all customers\u2019 data, and is managed with no duplication and no repetition.<\/span><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_empty_space height=&#8221;15px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"CIBIL\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/10\/mani-profile.jpg\" alt=\"Mani\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Mani Parthasarathy<\/h4>\n<p><em><strong>Can you please tell us how a digital onboarding process works?<\/strong><\/em><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_empty_space height=&#8221;12px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_empty_space][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-19708\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2021\/12\/Gorav-300x300.jpg\" alt=\"Gorav Gupta\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Gorav Gupta<\/h4>\n<p><span style=\"font-weight: 400;\"><span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/habiletechnologies.com\/blog\/the-lenders-roadmap-to-digital-onboarding\/\">Digital onboarding<\/a><\/span> has revolutionized the client onboarding process by enabling the 3 A\u2019s &#8211; anyone, anywhere, and at any time. Onboarding should be available at the ease of the customer. Gone are the days when you can expect customers to come to a branch between 9 to 5, and make them fill out tonnes of documents to get their loan disbursed. Millennials want everything instantly, no time for filter coffees anymore! People want that convenience, which is why the Swiggies, the Zomatos, and the Ubers have been successful and thriving in this market.<\/span><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_empty_space height=&#8221;15px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"CIBIL\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/10\/mani-profile.jpg\" alt=\"Mani\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Mani Parthasarathy<\/h4>\n<p><em><strong>What do you think about digital onboarding being cost-effective, Gorav?<\/strong><\/em><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_empty_space height=&#8221;12px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_empty_space][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-19708\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2021\/12\/Gorav-300x300.jpg\" alt=\"Gorav Gupta\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Gorav Gupta<\/h4>\n<p><span style=\"font-weight: 400;\">These days, <\/span><span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/www.business-standard.com\/article\/companies\/allow-digital-onboarding-of-customers-for-nbfcs-others-industry-body-120041401315_1.html\"><span style=\"font-weight: 400;\">digital onboarding<\/span><\/a><\/span><span style=\"font-weight: 400;\"> is not really an expensive affair anymore. We ourselves use a system that is built with a complete tech process because of which we are able to lend money in such a short period of time. I believe it\u2019s the understanding of the technology that is more important than the cost.&nbsp;<\/span><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_empty_space height=&#8221;15px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"CIBIL\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/10\/mani-profile.jpg\" alt=\"Mani\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Mani Parthasarathy<\/h4>\n<p><em><strong>How does digital onboarding help reduce the customer acquisition cost for NBFCs?<\/strong><\/em><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_empty_space height=&#8221;12px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_empty_space][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-19708\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2021\/12\/Gorav-300x300.jpg\" alt=\"Gorav Gupta\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Gorav Gupta<\/h4>\n<p><span style=\"font-weight: 400;\">Look Mani, technology is a double-edged sword &#8211; it\u2019s a brilliant enabler, but it comes with a cost. The only way to reduce the cost of technology adoption is to make it effective. Eg. Let\u2019s assume a tech application in which 100 applications come in. Some applications may get stuck at KYC due to insufficient data and some may not be eligible for credit, and only 5% may actually go through to disbursement. Here we mustn\u2019t look at the absolute cost of processing an application, rather we have to consider the composite cost of completing 5 disbursements. So the ratio of the number of applications to the number of disbursements becomes extremely crucial.<\/span><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_empty_space height=&#8221;15px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"CIBIL\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/10\/mani-profile.jpg\" alt=\"Mani\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Mani Parthasarathy<\/h4>\n<p><em><strong>Say a person on a digital lending platform applies for a loan and goes straight through to disbursement, what would be the cost of processing the application? Can you throw a number?<\/strong><\/em><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_empty_space height=&#8221;12px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_empty_space][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-19708\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2021\/12\/Gorav-300x300.jpg\" alt=\"Gorav Gupta\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Gorav Gupta<\/h4>\n<p>The absolute cost of processing just 1 successful application doesn\u2019t cross INR 300.<\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_empty_space height=&#8221;15px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"CIBIL\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/10\/mani-profile.jpg\" alt=\"Mani\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Mani Parthasarathy<\/h4>\n<p><em><strong>That\u2019s it?! It\u2019s funny that in traditional lending, just the petrol cost to go to the branch and back would be INR 150-200!<\/strong><\/em><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_empty_space height=&#8221;12px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_empty_space][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-19708\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2021\/12\/Gorav-300x300.jpg\" alt=\"Gorav Gupta\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Gorav Gupta<\/h4>\n<p>Yes, that\u2019s how much digital lending has become cost-effective.<\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_empty_space height=&#8221;15px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"CIBIL\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/10\/mani-profile.jpg\" alt=\"Mani\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Mani Parthasarathy<\/h4>\n<p><em><strong>The API buzzword is going on in the FinTech circles &#8211; can you talk a bit about this?<\/strong><\/em><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_empty_space height=&#8221;12px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_empty_space][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-19708\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2021\/12\/Gorav-300x300.jpg\" alt=\"Gorav Gupta\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Gorav Gupta<\/h4>\n<p><span style=\"font-weight: 400;\">API <span style=\"color: #ff0000;\">(<\/span><\/span><span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/habiletechnologies.com\/blog\/why-should-your-lending-business-get-api-fied\/#fin_form_pop\"><span style=\"font-weight: 400;\">Application Programming Interfaces<\/span><\/a><span style=\"font-weight: 400;\">) <\/span><\/span><span style=\"font-weight: 400;\">simply put, is something that connects 2 different systems, or passes data from one system to another for a certain use. The entire gamut of loan origination can be automated from KYC verification to disbursement using various <span style=\"color: #000000;\"><span style=\"color: #333300;\">APIs<\/span>.<\/span> For example, take e-KYC. Customers can get their identity and address verified through various government-issued documents like Aadhar ID, Passport copy, etc. APIs, which are part of digital lending software and systems, transfer in real-time the input given from the customer to the respective government database, fetches data from that customer, and use that info to perform e-KYC. There are APIs used for underwriting, execution of loan agreements, disbursement &amp; payment collection.<\/span><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_empty_space height=&#8221;15px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"CIBIL\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/10\/mani-profile.jpg\" alt=\"Mani\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Mani Parthasarathy<\/h4>\n<p><em><strong>What kind of regulatory challenges do you think NBFCs face?<\/strong><\/em><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_empty_space height=&#8221;12px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_empty_space][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-19708\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2021\/12\/Gorav-300x300.jpg\" alt=\"Gorav Gupta\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Gorav Gupta<\/h4>\n<p><span style=\"font-weight: 400;\">Smaller NBFCs don\u2019t face many challenges, but systematically important NBFCs have a lot of compliance requirements. If the Loan Management Systems in bigger NBFCs are designed to auto-generate info required for regulatory filing, then that\u2019s a best-case scenario.<\/span><br \/>\n<span style=\"font-weight: 400;\">There\u2019s a new scale-based regulation from RBI that could bring some challenges since it involves a new asset class called The <\/span><span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/www.rbi.org.in\/Scripts\/NotificationUser.aspx?Id=11768&amp;Mode=0\"><span style=\"font-weight: 400;\">Special Mention Accounts<\/span><\/a><\/span><span style=\"font-weight: 400;\"> (SMAs). I don\u2019t think the existing NBFCs are geared to take on and report such accounts, but if their LMS is scalable enough to support the generation of such reports, then it\u2019s okay. For eg., we use the LMS powered by Habile, and it was just a configuration that modified our reporting norms to meet this regulation.<\/span><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_empty_space height=&#8221;15px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"CIBIL\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/10\/mani-profile.jpg\" alt=\"Mani\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Mani Parthasarathy<\/h4>\n<p><em><strong>Gorav, how can lenders balance the expectations between traditional and millennial borrowers?<\/strong><\/em><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_empty_space height=&#8221;12px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_empty_space][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-19708\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2021\/12\/Gorav-300x300.jpg\" alt=\"Gorav Gupta\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Gorav Gupta<\/h4>\n<p><span style=\"font-weight: 400;\">Only if lenders minimize the length of the process taken to originate and disburse loans, this can be achieved. I\u2019ve noticed many institutions asking for n-number of data points through their websites or apps prior to the loan application. Are they really using these many data points to check creditworthiness?&nbsp;<\/span><br \/>\n<span style=\"font-weight: 400;\">Millennials can easily fill out these forms\/fields, but older people and those from rural India can\u2019t be expected to labor through so many questions. People like my father, who are unfamiliar with digital lending processes, will expect to fill out only relevant information to avail of loans. So if lenders are able to minimize this loan origination process, then the opportunities across an older demographic and rural India are bountiful.<\/span><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_empty_space height=&#8221;15px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"CIBIL\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/10\/mani-profile.jpg\" alt=\"Mani\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Mani Parthasarathy<\/h4>\n<p><em><strong>What is the best turnaround time that you\u2019ve achieved to disburse a loan?<\/strong><\/em><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_empty_space height=&#8221;12px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_empty_space][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-19708\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2021\/12\/Gorav-300x300.jpg\" alt=\"Gorav Gupta\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Gorav Gupta<\/h4>\n<p><span style=\"font-weight: 400;\">Before diving into that question, let me share with you why we\u2019re able to lend so quickly. We have built our onboarding as a paperless, low-upload, and real-time process. Most of the data used for making a credit decision is pulled using data fetch and cross-verified with government databases. Once the onboarding is done, we use alternate credit scoring and bank statement analyzer to build a data-rich rule engine (which contains several data points) to take a faster-than-normal decision.<\/span><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_empty_space height=&#8221;15px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"CIBIL\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/10\/mani-profile.jpg\" alt=\"Mani\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Mani Parthasarathy<\/h4>\n<p><em><strong>How many downloads of the app do you have now, Gorav? What\u2019s the secret of its success?&nbsp;<\/strong><\/em><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_empty_space height=&#8221;12px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_empty_space][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-19708\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2021\/12\/Gorav-300x300.jpg\" alt=\"Gorav Gupta\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Gorav Gupta<\/h4>\n<p><span style=\"font-weight: 400;\">After launching in Feb 2021 and expanding to other cities in South India from April, we are now present in 8 cities and over 90k downloads, although the number of loan applications through the app is over 120k. We\u2019re looking to touch 100k downloads very soon! I can attribute its success to a bunch of reasons:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Getting hits through word-of-mouth and some digital media marketing. App user-friendliness has driven many of our clients to refer us.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The older demographic has also found the app quite easy to navigate through and use.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Low rates of interest.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Very low processing fees.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A rock-solid customer care team that manages the toll-free number and email support.&nbsp;<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_empty_space height=&#8221;15px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"CIBIL\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/10\/mani-profile.jpg\" alt=\"Mani\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Mani Parthasarathy<\/h4>\n<p><em><strong>How much has technology helped Digimoney reach its milestones?<\/strong><\/em><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_empty_space height=&#8221;12px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_empty_space][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-19708\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2021\/12\/Gorav-300x300.jpg\" alt=\"Gorav Gupta\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Gorav Gupta<\/h4>\n<p><span style=\"font-weight: 400;\">Immensely. It has accelerated our growth multifold. Here are 2 main points:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Seamless Customer Onboarding<\/b><span style=\"font-weight: 400;\">: You know, we ask for only the DoB and pan card details in phase 2 of the app. The rest of the data is fetched from government databases.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Larger Audience Capture<\/b><span style=\"font-weight: 400;\">: Reaching out to and capturing people from tier-2 and tier-3 cities and older demographics through an easy-to-use app has also contributed. If I need to expand to pan-India, it will take me only 15 minutes.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"CIBIL\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/10\/mani-profile.jpg\" alt=\"Mani\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Mani Parthasarathy<\/h4>\n<p><strong><em>How is credit evaluation done on the app? How have you reduced your NPAs?<\/em><\/strong><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_empty_space height=&#8221;12px&#8221;][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_empty_space height=&#8221;12px&#8221;][vc_column_text][\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-19708\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2021\/12\/Gorav-300x300.jpg\" alt=\"Gorav Gupta\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Gorav Gupta<\/h4>\n<p><span style=\"font-weight: 400;\">Setting the standard (for underwriting, disbursement) is a one-time process. We\u2019ve designed a proprietary rule engine that has helped us keep zero NPAs over the last 9 months. Our credit evaluation process comprises 3 types of data &#8211; <span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/habiletechnologies.com\/blog\/an-introduction-to-credit-bureaus\/\">bureau<\/a>, <a style=\"color: #ff0000;\" href=\"https:\/\/habiletechnologies.com\/blog\/alternative-credit-scoring-why-is-it-so-popular\/#fin_form_pop\">alternate<\/a>,<\/span> and <span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/habiletechnologies.com\/blog\/bank-statement-analysis-important-los\/#fin_form_pop\">bank statement analyzer<\/a>.<\/span> All data points are generated using <\/span><span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/www.financialexpress.com\/money\/how-technology-is-transforming-the-digital-lending-landscape-for-consumers\/2381314\/\"><span style=\"font-weight: 400;\">AI and ML tools<\/span><\/a><\/span><span style=\"font-weight: 400;\"> which feed into the rule engine and risk profile of the customers.<\/span><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"CIBIL\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/10\/mani-profile.jpg\" alt=\"Mani\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Mani Parthasarathy<\/h4>\n<p><strong><em>What kind of alternate data points do you use?<\/em><\/strong><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_empty_space height=&#8221;22px&#8221;][\/vc_column][\/vc_row][vc_row gap=&#8221;1&#8243;][vc_column width=&#8221;1\/2&#8243;][vc_empty_space][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-19708\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2021\/12\/Gorav-300x300.jpg\" alt=\"Gorav Gupta\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Gorav Gupta<\/h4>\n<p><span style=\"font-weight: 400;\">We use many service providers for e-KYC, payments(where we use their e-NACH, e-MANDATE collection APIs), and alternate data. But the most important one is the loan management system, for which of course we use Habile\u2019s <\/span><span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/habiletechnologies.com\/lending-software\/\"><span style=\"font-weight: 400;\">CloudBankIN<\/span><\/a><\/span><span style=\"font-weight: 400;\"><span style=\"color: #ff0000;\">.<\/span> The best part is that we\u2019re able to customize it to our requirements, be it demographic, regulation, or interest rate change.<\/span><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"CIBIL\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/10\/mani-profile.jpg\" alt=\"Mani\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Mani Parthasarathy<\/h4>\n<p><strong><em>How do you differentiate from your competition?<\/em><\/strong><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_empty_space][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_empty_space][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-19708\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2021\/12\/Gorav-300x300.jpg\" alt=\"Gorav Gupta\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Gorav Gupta<\/h4>\n<p><span style=\"font-weight: 400;\">We\u2019re a FinTech and an NBFC, which makes us unique, but our focus has always been technology. Other operational aspects where we\u2019d like to differentiate ourselves are faster turnaround time, low interest rates and processing fees, and top-notch customer service.<\/span><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"CIBIL\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/10\/mani-profile.jpg\" alt=\"Mani\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Mani Parthasarathy<\/h4>\n<p><strong><em>What is your scope with regards to loan aggregators, Gorav?<\/em><\/strong><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_empty_space][\/vc_column][\/vc_row][vc_row][vc_column width=&#8221;1\/2&#8243;][vc_empty_space][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-19708\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2021\/12\/Gorav-300x300.jpg\" alt=\"Gorav Gupta\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Gorav Gupta<\/h4>\n<p><span style=\"font-weight: 400;\"> Mani, we are slightly averse to concepts like co-lending and providing <span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/www.moneycontrol.com\/news\/business\/digital-lending-report-first-loss-default-guarantee-and-buy-now-pay-later-models-might-undergo-changes-say-experts-7747881.html\"><span style=\"font-weight: 400;\">FLDG guarantees<\/span><\/a><span style=\"font-weight: 400;\">. <\/span><\/span> because the associated costs are high. These initiatives come at a cost, and the moment lending costs go up, the intent to repay decreases significantly (higher NPAs). Right now we\u2019re not partnered with any aggregators, but it may happen in the future.<br \/>\n<\/span><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][vc_column][vc_row_inner][vc_column_inner width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"CIBIL\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/10\/mani-profile.jpg\" alt=\"Mani\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Mani Parthasarathy<\/h4>\n<p><strong><em>How would you describe an efficient user flow<\/em><\/strong><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column_inner][vc_column_inner width=&#8221;1\/2&#8243;][vc_empty_space][\/vc_column_inner][\/vc_row_inner][vc_row_inner][vc_column_inner width=&#8221;1\/2&#8243;][vc_empty_space][\/vc_column_inner][vc_column_inner width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-19708\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2021\/12\/Gorav-300x300.jpg\" alt=\"Gorav Gupta\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Gorav Gupta<\/h4>\n<p><span style=\"font-weight: 400;\">It\u2019s simple: <b>Customer registration \u2192 KYC \u2192 Credit Underwriting \u2192 Offer \u2192 e-Mandate \u2192 Loan Agreement \u2192 Disbursement<\/b><\/span><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner][vc_column_inner width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"CIBIL\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/10\/mani-profile.jpg\" alt=\"Mani\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Mani Parthasarathy<\/h4>\n<p><strong><em>What about tools to prevent fraud prevention, Gorav? What do you think?<\/em><\/strong><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column_inner][vc_column_inner width=&#8221;1\/2&#8243;][vc_empty_space][\/vc_column_inner][\/vc_row_inner][vc_row_inner][vc_column_inner width=&#8221;1\/2&#8243;][vc_empty_space][\/vc_column_inner][vc_column_inner width=&#8221;1\/2&#8243;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-19708\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2021\/12\/Gorav-300x300.jpg\" alt=\"Gorav Gupta\" width=\"50\" height=\"50\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Gorav Gupta<\/h4>\n<p><span style=\"font-weight: 400;\">We\u2019re not using any tool that can actually prevent Fraud, Mani. But fraud prevention is in-built into the process itself. Actual tools to prevent fraud can easily be understood and manipulated by fraudsters so what I think could help is if you have a cross-verification check at each step of the loan origination process. I\u2019ve heard of Closed User Groups (CUG) at big banks to help weed out fraudsters, but I think people can easily game the system.<\/span><\/p>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column_inner][vc_column_inner][vc_column_text]<\/p>\n<h3>You may also like:<\/h3>\n<div class=\"stm_news blog_most_recent_posts\">\n<ul class=\"news_list posts_per_row_3\">\n<li id=\"post-7288\" class=\"post-7288 post type-post status-publish format-standard has-post-thumbnail hentry category-loans tag-agency tag-collection tag-debt tag-loan tag-modern tag-technology tag-traditional\">\n<div class=\"post_thumbnail\"><a href=\"https:\/\/habiletechnologies.com\/blog\/bank-statement-analysis-important-los\/\"><img loading=\"lazy\" decoding=\"async\" class=\"attachment-consulting-image-350x204-croped size-consulting-image-350x204-croped wp-post-image\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2021\/08\/Webp.net-compress-image2-1110x550.jpg\" alt=\"\" width=\"350\" height=\"204\"><\/a><\/div>\n<h5><a href=\"https:\/\/habiletechnologies.com\/blog\/bank-statement-analysis-important-los\/\">Why is Bank Statement Analysis important in LOS<\/a><\/h5>\n<\/li>\n<li id=\"post-7037\" class=\"post-7037 post type-post status-publish format-standard has-post-thumbnail hentry category-banking-and-finance category-loans\">\n<div class=\"post_thumbnail\"><a href=\"https:\/\/habiletechnologies.com\/blog\/how-to-choose-a-successful-loan-origination-system-top-factors-to-keep-in-mind\/\"><img loading=\"lazy\" decoding=\"async\" class=\"attachment-consulting-image-350x204-croped size-consulting-image-350x204-croped wp-post-image\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2021\/05\/How-To-Choose-A-Successful-Loan-Origination-System%E2%80%93Top-Factors-To-Keep-In-Mind3-1110x550.png\" alt=\"\" width=\"350\" height=\"204\"><\/a><\/div>\n<h5><a href=\"https:\/\/habiletechnologies.com\/blog\/challenges-and-opportunities-for-digital-lenders-in-covid-19-recession\/\">How To Choose A Successful Loan Origination System\u2013Top Factors To Keep In Mind<br \/>\n<\/a><\/h5>\n<\/li>\n<li id=\"post-7037\" class=\"post-7037 post type-post status-publish format-standard has-post-thumbnail hentry category-banking-and-finance category-loans\">\n<div class=\"post_thumbnail\"><a href=\"https:\/\/habiletechnologies.com\/blog\/enhancing-customer-experience-through-loan-origination-system\/\"><img loading=\"lazy\" decoding=\"async\" class=\"attachment-consulting-image-350x204-croped size-consulting-image-350x204-croped wp-post-image\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2021\/04\/Loan-Origination-Post-COVID-19-for-MFIs9-1110x550.png\" alt=\"\" width=\"350\" height=\"204\"><\/a><\/div>\n<h5><a href=\"https:\/\/habiletechnologies.com\/blog\/challenges-and-opportunities-for-digital-lenders-in-covid-19-recession\/\">Enhancing Customer Experience through Loan Origination System<\/a><\/h5>\n<p>&nbsp;<\/li>\n<\/ul>\n<\/div>\n<p>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_single_image image=&#8221;19746&#8243; img_size=&#8221;medium&#8221; alignment=&#8221;center&#8221;][vc_column_text]Technology has woven its magic in the 21st century across innumerable sectors, many of which have benefited from different aspects of their businesses: customer outreach, resource planning, and speed of product\/service delivery to name a few. Along these lines, the burning question among banks and NBFCs (non-banking financial companies) is &#8211; when [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":19746,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"footnotes":""},"categories":[129],"tags":[93],"class_list":["post-19705","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan-origination","tag-loan-origination"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v16.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How Lending Companies can Disburse the loan in 10 mins<\/title>\n<meta name=\"description\" content=\"The current year has been promising for BNPL in the Indian economy. 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