2gthr & Xlr8 platforms drive partnerships

Sandeep Sonpatki, Chief Business Officer at Lendingkart, reveals the company's strategies and technology approaches for deepening partnerships:

Ravi Lalwani: Has the pace at which the organization engages with new partners changed? Please share a couple of recent examples.

Sandeep Sonpatki: In the digital lending space, there is a rise in partner engagements. Lenders are looking at agile partners to help them in expanding their products, extending reach, or bettering customer experience and at the same time bringing speed in going to market and efficiency in operations. New partnerships and collaborations are touching all parts of the business.

At Lendingkart Platforms business, we are extensively partnering with banks and other NBFCs to deliver easy finance to our target segment through our 'xlr8' distribution platform. Xlr8 helps our clients get a pan-India distribution reach across 11,000 pin codes, through our on-field agent network and 120+ online channel partners. One of the key ingredients of a successful partnership and quick go-to-market, that we have seen is the stability of underlying technology architecture. Our partners who have a mature and evolved technology platform with well-defined APIs, tend to have deeper and tighter relationships. We can deliver a better customer experience seamless processing of data and handoffs. On the other hand, the lack of API-based platforms results in manual workarounds, increases operating costs, and has an impact on customer TAT.

Compared to past partnerships, how are your newer partnerships different in terms of domain, length of engagement, speed of delivery, etc?