“My field force can be so much more productive because now their job is simply getting in customers into the funnel and probably calling up the customer and saying that "boss, please, I have sent you the link sign it". Earlier on, these guys literally had to be on the streets, not only bringing in customers, but getting all this documentation executed”
Dhanvarsha Finvest is a multi-channel, multi-product NBFC. Beyond unsecured business loans, it also provides loans against property, gold loans and personal loans for MSMEs and their workers.
“Firstly, there's a delay in getting those documents to the borrower, getting those documents signed by the borrower and bringing them back to your back office.”
“If I were to just talk about the documentation leg of it, which happens post sanction and pre disbursement, that itself, used to take roughly about two to three days”
“When you have a loan agreement, which is five or six pages long [which] people are signing, signatures get missed out, then, you know, it just worsens the customer experience and their turnaround time. And you have to go back to the customer and ask them for one signature on a piece of paper.”
“The turnaround time to disbursement is almost less than an hour after the sanction. Average document execution time has come down from two days to literally like an hour, plus, there are no errors”
“Average productivity of an agent used to be, I would say about 20 odd lakhs a month, in terms of disbursement. Those same guys are now closing the month at about between 25 and 30 lakhs. I can see the boost in the funnel because of something like this being introduced.”
An interview with Dhanvarsha Finvest’s Chief Business Officer:
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