How Bharat Financial Inclusion Limited is using digital paperwork to ensure 100% digital business correspondent onboarding

The story of how BFIL, a 100% owned subsidiary of IndusInd Bank, completely digitised their business correspondent onboarding paperwork

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“The benefits of digitisation versus paperwork are in terms of turnaround times. And so the whole process of enrollment end to end can take as less as 15 minutes.”

Ritesh Chatterjee,

Chief Business Officer @ BFIL

Quick look at our work with Bharat Financial Inclusion Limited

Reduction in TAT

The whole process of enrollment end to end now takes as less as 15 minutes

Reduced costs

The cost of managing and cost of acquisition has gone down

Hassle-free stamp paper procurement

Less money is tied up in inventory of stamps, using Leegality’s digital process and the process of acquisition has also become easier

Retrieve documents easily

All documents are stored on a portal where one can go and retrieve anything that is required

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We sat down with Ritesh Chatterjee, Chief Distribution Officer at Bharat Financial Inclusion Limited and Head of Bharat Money Store to discuss-

The importance of the BC onboarding agreement
How physical paperwork created significant operational hurdles in the BC onboarding process
Why BFIL chose Leegality
BFIL’s new Leegality powered digital BC onboarding process
Business results from their new zero paper onboarding process
Interaction with Leegality’s support team