- Digitizing loan collections to transform customer experience and extend financial inclusion
- Facilitating digital, faster, and cost-effective collections even in remote areas
NEW DELHI and MUMBAI, India — SarvaGram, the FinTech lender focused on rural India, is digitizing debt collections and extending financial inclusion by implementing a mobile-based field loan collections platform – CG Collect – from Credgenics, the leading provider of SaaS-based collections and debt-recovery technology platforms worldwide.
SarvaGram is a pioneer in meeting the growing aspirations of rural India and extending financial inclusion across rural markets with a bouquet of loan product offerings through its tech-enabled framework. Credgenics’ mobile-based CG Collect platform will enable SarvaGram to digitize its loan collections to the last mile, monitor its field collections operations in real-time, and transform the end customer experience.
With CG Collect, SarvaGram’s field teams in rural areas will handle collections activities including discovering cases, accessing account details, planning their day, scheduling new visits, and recording the outcomes with proof in just a few clicks. SarvaGram will also provide digital receipts instantly to its borrowers against their loan amount repayments. Usage of Credgenics’ platform CG Collect will improve field collections, boost operational efficiencies, unlock team productivity, and eliminate transactional mistakes. The centralized digital recording of collections transactions will remove the need for manual reconciliations, which are time-consuming and error-prone.
SarvaGram plans to rapidly expand the usage of CG Collect for its entire field collections operations across its 50 branches. The easy-to-use solution comes with map-based features including location tracking, smart route planning, and navigation. The platform can function seamlessly with limited internet connectivity, thereby allowing digital operations even in remote areas.
Sameer Mishra, Co-founder, and ED, SarvaGram, said, “Our lending model relies heavily on using specialized algorithms to identify, assess and serve our customers across rural India. Credgenics’ CG Collect platform is expected to complement our capabilities in implementing robust digital processes across the collections business value chain.”
SarvaGram is building India’s first household-centric, data-led ‘high-tech high-touch distribution platform to meet the growing aspirations of rural India, with a bouquet of financial and productivity-enhancing offerings. SarvaGram’s unique distribution platform leverages technology and data to empower a highly nimble on-ground presence.
Credgenics is a leading provider of loan collections and debt recovery technology solutions for Banks, NBFCs, ARCs & Digital lending firms worldwide. Credgenics’ SaaS platform helps lenders with end-to-end digitized loan collections through a mix of AI-led digital communications, litigation services, an integrated payments platform, and a feet-on-street app for collections agents. With Credgenics, lenders have boosted the efficiency of their collection, enhanced the recovery rates, and transformed their customer experiences.