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How Dhanvarsha Finvest organically expanded the use of Leegality

How the paperless revolution is spreading

“At present, we are using the Leegality platform for executing loan agreements for two of our loan products i.e. Business Loan and Personal Loan. Through this process, our TAT on Disbursement has reduced by almost 60% with a fully paperless journey.”

Dhairya Shah

Head - Projects @ Axis Finance

“[Physical signing] is a long, drawn process. And in this whole bargain, there are papers wasted. There is stamp duty. There are discrepancies. People don't know where to sign, what to sign. People leave blanks. So a replacement is simply to take it to a digital mode where you can be in complete control of the process.”

Sunil Khichar

DVP, Legal & Secretarial, TATA AIG General Insurance

“We are also using Leegality for our vendor payout invoices signing process. This has benefited us in improving our overall TAT and in turn, increased the team’s productivity. Even the DSAs are relieved with this new process. The old process of printing on letterheads, printing invoices, sending to us, waiting for our approval etc. is completely eliminated by Leegality.”

Dhairya Shah

Head - Projects @ Axis Finance

“It used to take 15-20 days to onboard just one partner. We did a time motion analysis, and it now takes less than two minutes or so.”

Ravi Bajaj

Senior Product Manager @ Airtel X Labs

“One of the major reasons we chose Leegality was that it resolved logistics and expense management issues that we were facing with the physical stamping process. In a typical stamping process – we’d have to coordinate with the stamping vendor, ensure inventory is available, give them denominations etc. All of this requires a lot of effort at our end. Leegality’s stamping addressed this problem completely.” - Dhairya Shah,

Dhairya Shah

Head - Projects @ Axis Finance

“In our industry, one can become non-compliant even if one loan file goes missing and that comes up as a legal case. With this intervention from Leegality, we are assured that whatever is disbursed, is being signed electronically and is then stored in the Document Management Server for future reference, and can be retrieved as per need. This gives a lot of comfort to our Compliance Department as well.”

Arvind Murarka

Senior Vice President and Head - IT, Arohan Financial Services

“My field force can be so much more productive. Their job is just getting customers into the funnel and calling up the customer and saying that "boss, please, I have sent you the link, sign it", but that's where their job ends. Earlier on, these guys literally had to be on the streets, not only bringing in customers, but getting all this documentation executed. So we have seen a massive boost in productivity, improvement in customer experience and reduction in time."

Sahil Lakshmanan

Chief Business Officer @ Dhanvarsha Finvest

“My business development manager sends an email or an SMS and [the partner] signs it. That's it. It's done. So it changes his life. The travel time, which he used to travel by plane or train, that has been killed to zero.”

Ravi Bajaj

Senior Product Manager @ Airtel X Labs

“Customer satisfaction has improved a lot – once they sign they get the agreement within 15 seconds of signing in their Mailbox.”

Dhairya Shah

Head - Projects @ Axis Finance

“With Leegality we are saving courier cost, transportation cost and then the cost for the man-days lost, [due to] people who are actually checking those physical files”

Arvind Murarka

Senior Vice President and Head - IT, Arohan Financial Services

“Leegality also helped eliminate the process of physical procurement of stamp paper – resulting in easier expense management”

Dhairya Shah

Head - Projects @ Axis Finance

“See, with our customer segment - if they have to make a trip to our branch then they have to forego part of their daily wages. So the digital paperwork process saves them money. If you tell them "Didi you can sign this from home" then they would just choose to do that. Not going to the branch is a great option for them.”

Arvind Murarka

Senior Vice President and Head - IT, Arohan Financial Services

“As an organization, the [Excel Upload] feature improves our per employee productivity at a very large scale. Our internal ops team can now multi-task and manage things digitally rather than managing physical documents. They don’t have to do this activity of processing and sending documents the whole day. This actually also improves their overall work-life balance!”

Dhairya Shah

Senior Vice President and Head - IT, Arohan Financial Services

“We have seen a massive boost in productivity, improvement in customer experience and reduction in time. If I talk about unsecured lending, the 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 literally now closing the month at about between 25 and 30 lakhs. I can see the boost in in the funnel because of something like this being introduced”

Sahil Lakshmanan

Chief Business Officer @ Dhanvarsha Finvest

“Our partner will be able to sell from today evening itself. 4:30 he has signed it, 4:31 he can start selling for us. He also gets the revenue from day one, and we also. We don't need to wait for 15, 20 days to churn out that revenue”

Ravi Bajaj

Senior Product Manager @ Airtel X Labs

“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 and now it takes less than an hour.”

Sahil Lakshmanan

Chief Business Officer @ Dhanvarsha Finvest

“The entire document can actually be signed in the field and it can also be signed remotely, so that is the biggest advantage that we get. The customer need not come all the way to the branch to do it. So that has been the biggest change for us and it has saved a lot of time. ”

Arvind Murarka

Senior Vice President and Head - IT, Arohan Financial Services

“Paper forms are prone to mistakes. When you have a loan agreement, which is five or six pages long [which] people are signing, signatures get missed out. Then 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. [With Leegality] now there are no errors.”

Sahil Lakshmanan

Chief Business Officer @ Dhanvarsha Finvest

“And it also ties up less money in the inventory of stamps, using this digital process. Physical process, you have to pay and buy, but if you enroll less [merchants] in that state, you will be left with a lot of stamp papers which are unused. So [BharatStamp] allows you to optimize the usage also and so that you have less inventory tied up in stamps, stamp value. So it has helped us save at least 30 percent inventory value of stamps”

Ritesh Chatterjee

Chief Business Officer, BFIL

“In the industry, the practice of getting blank agreements signed is still quite common – where the customer doesn’t know what they are signing and often feel cheated. Leegality ensures this is completely taken out of the question. There is no longer debate or complaint later on that the customer was made to sign a blank agreement.”

Dhairya Shah

Head - Projects @ Axis Finance