Mehul Dani: How was your digital strategy implemented in 2019-20, and what was the customer response?
Anuj Pandey: Most financial institutions while lending to MSMEs still insist on looking at physical documents like financials or bank statements. Our approach has been to use a digital mindset and platforms as a credible and practical solution to real problems faced by the industry. Our digital strategy has been a combination of digitization and digitalization. Our endeavor has been to educate our customers and GRO partners on the advantages of going digital. To enable them we introduced our GRO+ app which helps digitize physical documents on the spot through ML-based OCR tech. We have also developed GRO Score, which is a proprietary ML-based credit underwriting rule engine customized for our selected MSME sectors. GRO+ app was made available even on hand-held devices and is now widely recognized has one of the industry’s first applications of its kind. Today we provide an in-principle decision for any loan application through GRO+ app within 60 minutes.
Denne historien er fra August 2020-utgaven av Banking Frontiers.
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Denne historien er fra August 2020-utgaven av Banking Frontiers.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Swedbank leverages data to the hilt
Sweden's Swedbank takes innovation to a different level by collaborating with other competing banks:
Digitization is for customer satisfaction, says Argenta Bank
Belgium's Argenta Bank has designed its digitization efforts to enhance customer experience:
Speed, Safety, Compliance
Brijesh Samantaray, Co-founder, Propelld shares the current trends in the education loans how the company is leveraging technology:
Unique methods in fraud perpetration
When we look at some of the very serious frauds that had taken place in the financial realm, it is evident that the perpetrators are somewhat ingenious:
NBFCs: Elevating Organizational IQ
What is more important than hiring smart people is raising organizational IQ. This topic was discussed in depth in a panel discussion at NBFC's Tomorrow conclave organized by Banking Frontiers. Edited excerpts:
Trustful Transformation
Transformation is no longer only about growth & efficiency. It involves aspects like compliance, security and explainability that are impacting NBFCs. These issues are explored in this panel at NBFC's Tomorrow:
CEO Panel: Connecting Traditional Wisdom with Modern Intelligence
Banking Frontiers organized its annual NBFC Conclave titled NBFC's Tomorrow in August 2024 at Mumbai. Highlights of the first panel discussion:
NBFCs EXPERIENTIAL EVOLUTION, TRUSTWORTHY TRANSFORMATION
Banking Frontiers organized NBFC's Tomorrow, its annual NBFC Conclave, in Mumbai on August 21. The program comprised panel discussions on 5 upcoming opportunities for the NBFC sector, along with presentations, fireside chats and a keynote address. Edited excerpts from the conclave:
Smart ATMs - an indication of a resurgence
Smart ATMs can be the future way of how one may be interacting with a bank and doing transactions:
Personalization scores with HNWI & YP
Ghulam Haidar Rasooli, Chief Financial Officer at Afghanistan based Ghazanfar Bank, reveals the impact of personalization and future roadmap: