FULLERTON INDIA PROVIDES instant Cash-in-account to salaried individuals, for up to 60,000 for new customers applying on its Instaloan app, fully leveraging the advanced data-analytics capabilities. The digital business has grown 10x over the last one year, and over 20% of new salaried customers have originated via its digital business. ECs Abhishek Raval speaks with Rajashree Nambiar, CEO & MD, Fullerton India Credit Company.
How important is digitization in Fullerton India Credit Company’s growth strategy?
Fullerton India believes digitization can bring monumental transformation into the lending business and hence forms a core pillar of our growth strategy. Our recent efforts in digitizing existing business and introducing new digital vertical within the organization will further our position as a digital pioneer among the incumbents.
With our investments and focus on digitisation, we attract more than 1 million visits every month on our website, and service unsecured loans upto ` 20 lakhs to customers through web and app with instant decisioning and 100 per cent digital journey. We provide instant “Cash-in-account” to salaried individuals up to 60,000 for new customers applying on our Instaloan app, fully leveraging our advanced data-analytics capabilities. Our digital business has grown 10x over the last one year, and over 20 per cent of new salaried customers are originated via our digital business.
What steps have you taken so far towards moving on the digital path?
Digital devices are getting affordable, and more people are using these as a part of their day to day activities. Recognising this, we have introduced services that aid in this process of digitisation. Few of these services are online lending platform- both web based and app based, online verification through eVerify mobile app, assessing customer credibility through alternate data sources through Instaloan app and lending over Facebook through chatbot ASHA, which is a self-learning chatbot available on Facebook messenger and provides an interactive medium for customers to apply and submit documentation and receive loan approvals.
This story is from the October 2018 edition of Express Computer.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October 2018 edition of Express Computer.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
How Big Basket Is Leveraging Emerging Tech For Streamlining Delivery
A perfect combination of focused strategy, market knowhow, customer centricity, and most importantly, the right technology, has led to Big Basket's dominance in online grocery space
Technology raising the bar in higher education
From app-based learning to virtual classrooms and from AI to analytics, the higher education industry in India is driven by increasing technology adoption
Speaking about the EDGE
BY ESTABLISHING IT deployments for cloud-based services in edge data centres located in localised areas or communities, IT resources are effectively brought closer to end users and devices
REDEFINING DATA CENTRES
A look at how some of India's leading organisations are heralding transformational changes in their data centre operations
Need to define outcomes before making data centre software defined
THERE IS A NEED to clearly define the outcomes from adopting the software defined concept; a necessary mechanism to regularly review and revise the outcomes should also be built, says Manoj Gautam, VP - IT Infrastructure Service, Maruti Suzuki India
ICICI Bank: Unique distinction of a platinum rated green data centre
PROVIDING A MAJOR impetus to CII- Indian Green Building Council's (IGBC) efforts in greening of Indian data centres, ICICI Bank Data Centre in Hyderabad has gained the unique distinction of becoming India’s first Platinum rated project under IGBC Green Data Centre Rating System
Data centre rationalises computing resources at Titan Company
TITAN HOSTS A complex IT architecture. The data centre team has been trained by the OEMs to run the software-defined infrastructure, says Krishnan Venkateswaran, Chief Digital and Information Officer, Titan Company
Bajaj Housing Finance goes with 100% cloud architecture
BAJAJ HOUSING FINANCE has moved the entire enterprise IT ecosystem 100 per cent on public cloud, leading to flexible architecture for its business applications, data warehousing and analytics, which is high performing, rapidly scalable and secure
The top barriers financial institutions face in their race to digital transformation
WHY ARE DIGITAL business transformations failing to deliver value? Low double digit percentage of IT leaders have seen sustained performance improvement from transformation efforts, and are successful at sustaining change
Mercedes-Benz banks on digital initiatives for competitive advantage
MERCEDES BELIEVES THAT CONNECTED, Autonomous, Shared and Services, Electric (CASE)are the four concepts that will shape the future of driving. While design has been a fancy for Mercedes, tech and IT is as significant. And if touch controls seem too tedious to operate then the company now brings out gesture control
