DigiMoney - CloudBankin – A digital loan software by Habile Technologies

Introduction

DigiMoney Finance is an RBI-licensed innovative tech-based NBFC providing loans for individuals and SMEs. The combination of Fintech+NBFC enhances their customer journey and their mission towards making finance accessible 24/7, all 365 days, with utmost convenience and speed, making “Lending as a Service”.

  • Challenges
  • Solutions
  • Results
  1. Building a unique flow that will set it apart from competing products.
  2. Explore different loan products to boost revenue.
  3. Go to market within months.
  4. Need to access unexplored segments.
  5. Disbursement of loan as quickly as possible for a customer.
  1. Integrating with all the APIs and completing the credit decisioning using Rule Engine. The credit decisioning model processes alternate data, including SMS, bank statements and Credit Bureau data
  2. Scalability in geography.
  3. By using CloudBankin, Digimoney went to market in 24 hours.
  4. Implemented a robust process to improve efficiency and decrease operational costs.
  5. Mobile app for better Customer experience.
  1. Launched 3 new loan products (LAP, Medical loan, Edu loan)  within a span of 3 months.
  2. Digimoney can now disburse a loan in just 7.5 minutes.
  3. They have expanded their presence in 4 new states and 1 UT (Andhra Pradesh, Kerala, Telangana, Karnataka and Pondicherry) apart from Tamil Nadu.
  4. Better underwriting models to lower the delinquency
  5. Digimoney’s mobile app has reached 100,000+ downloads within a short span. 
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