How Leegality's GPS and Face Capture helped Dhanvarsha Finvest build a more secure paperless journey
Dhanvarsha Finvest Limited is a listed NBFC which aims to provide timely, affordable and sustainable access to credit to India’s large underbanked MSME segment. It’s core mission is to help build social capital for the MSME segment in India.
Dhanvarsha Finvest is a multi-channel, multi-product NBFC. Beyond unsecured business loans, it also provides loan against property, gold loans and personal loans for MSMEs and their workers
Probably the biggest reason that Leegality kept our account this year wasbecause of the support that Leegality provides. I think what really keepspeople with the business, same as ours, is how you engage with yourcustomers, how good you make them feel about working with you. AndLeegality teams did that with us, which is why we continued with Leegalitythis year.
The importance of support
The problem with people like me is I get to check my email once a day orsomething. I have dedicated email time, after that I don't respond on emailsat all. So it helps to have someone you can just call up and say that, youknow, "boss can you get, my teams are having an issue with this. Can youget it looked into? Can someone help". It really helps when you have anaccount manager who you can just call and who will make stuff happen foryou.Even in terms of training the team, Leegality was a completely new featurefor them. They had never worked with something like this before. So I thinkhand holding us through that entire phase of adoption was extremely,extremely well done
Why Support makes up for a higher license fee
We work in the business of money. Our time is money. In the larger schemeof things, that [extra license fee] doesn't pinch me. But if I had to deal with aservice where my team had to spend umpteen hours chasing on calls,chasing on emails and my work was not getting done, and I had to thenspend [time], get involved and get stuff done. That for me is not worthpaying [cheaper license fee]
In some cases, borrowers are uncomfortable with Aadhaar eSign or don’t havetheir Aadhaar linked to their phone. In such cases, Dhanvarsha uses LeegalitySecure Virtual Sign.To ensure identity security in Virtual Sign journeys, Dhanvarsha uses Leegality’sface capture:Sahil Lakshmanan, Chief Business Officer @ Dhanvarsha FinvestThe face capture helps when you're doing a virtual signature - where theidentity of the borrower is not 100 percent unlike an Aadhaar eSign. So it reallyhelps you have captured the face of the borrower as well, so that tomorrowthe borrower can't get up and say "boss kisi ne mera phone liya aur usne signkar diya [someone took my phone and signed the document]". So that helps