NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Tuesday, April 28, 2015

Bangalore-based Ujjivan Financial Services Pvt Ltd, one of the top-tier microfinance institutions in the country, has rolled out hand-held field technology devices as it seeks to take the loan approval process online and expedite disbursals.

It has collaborated with fin-tech firm Artoo to enable field staff with internet-enabled handheld tablets which run a lending solution.

The project is aimed at providing quick and appropriate loans to its customers, reduce the turnaround time as well as improve efficiency and productivity in disbursing loans.

The project has been launched in 282 branches across 16 states and is expected to handle Rs 3,000 crore of disbursements over three years once it is rolled out in all operating branches of Ujjivan.

“Though this solution has come at a cost, the benefits are already visible. Today, Ujjivan’s individual loan process is as efficient as of any new-age bank,” said Samit Ghosh, managing director and CEO at Ujjivan.