Digital Lending – Within 3 Minutes Loan Disbursement

The Challenges

Creating an end-to-end solution for a leading Indian NBFC to start digital lending with only India UID (Aadhar) as input for customer, while ensuring loan disbursements within 3 minutes

Digital lending is the process of availing online credit. Its increased popularity amongst new-age lenders can be attributed to the expanding smartphone penetration, credit range flexibility and speedy online transactions, With digital transformation in every business across the world, it is very important that a customer can get loan without visiting the branch. Additionally, customer experience is becoming more and more important for any business, and therefore lenders want to take minimum information from client and ensure lower turn-around time for disbursals.

The Solution

To provide a complete end-to-end solution for client to enter the digital lending space, and at the same time optimizing the strategy to minimize risk, a three-step approach was adopted.

What We Achieved

Digital lending has gained huge traction in India in the past few years as a preferred solution among fintechs and NBFCs. The advantages include, but are not limited to, real-time underwriting of loans, greater financial inclusion and improved customer experience.

Since adopting the strategy developed by Auronova, the client was able to do risk assessment of 30+ million login customers and disbursed loans to 5+ million customers.

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