Financial sector is indisputably an industry that is undergoing a major transformational era in terms of technology adaptation. Today, it is not enough to just say - “We are customer-centric and highly trusted." The advocacy must reflect in the way the financial sector operates.
One such space is microfinance, traditionally, microlending business is characterized by its high-touch delivery model. The model, though successful, was not equipped to answer the technology-driven shift happening at a global level. However, in the Indian narrative, society and policy are the prime movers, which also applies to the way technology is adapted.
Svatantra Microfin Pvt. Ltd. (Svatantra) one of the leading Microfinance companies, started its tech-driven transformation from the time it was laying its building block. Company visioned to set-up a customer-centric approach with a balance of technology intervention and human interference and truly stand to its name of being a next-gen microfinance company.
In a view to achieve it, Svatantra’s goal was to adopt digital solution across its value chain and put in place a mechanism to:
- increase business footprints,
- enhance overall productivity
- and improve efficiency of the operations.
How Celusion’s Digital Solution helped Svatantra Microfin meet its fintech dream!
Svatantra Microfin teamed up with
Celusion Digital Solution to deploy a solution that would foremost help the company manage its end-to-end operations, based on which the strategy was to build a platform considering the industry DNA, user behavior, agility, and scalability. Alongside,
Celusion team strongly recommended an analysis to understand the workflow and operational challenges.
Upon evaluation, Svatantra Team zeroed on an app-based solution which had sparkling results on the business and its operations. Technology implementation transformed and decentralised the way teams operated, it had key results in areas such as - reduction of TAT, consolidation of Workflow, and overall ease of work.
The technology helped the company disrupt team’s working at a granular level. The enterprise today with its growing footprints and over 4500 employees is one of the leading MFIs in the country. The company has been successful in serving more than a million rural women customers who are otherwise underserved by the mainstream banking players. Company’s technology-led approach overhauled the working of microfinance space, while continuing to bridge the gap between the lender and the borrower and improve the lives of all involved.
