YES BANK Partnership with LENDINGKART The Genesis Need
YES BANK Partnership with LENDINGKART
The Genesis & Need XYZ BA NK Large Queues outside Public Sector Banks to Remit Money Target Segment: Migrant Workers in Urban areas 1) Poor Service to Workers 2) Loss of Valuable Time and Income for the Workers Gap: Poor Service Delivery and income loss to Migrant workers Opportunity: Provide Flexible (at any time) and efficient service to Migrant workers at affordable cost Solution! YES Money – Tie-up with Business Correspondents (BCs) to provide seamless Domestic Remittance Service to Customers at reasonable fee
How does the model work – the Stakeholders YES BANK BC Partner BC Agent • Overall Program Management • On-boarding and Training BC Partner • Compliance • Connectivity with Other Banks via RBI/NPCI • Technology Platform • BC Network management • Limit Management • On-boarding and Training of BC Agents • Customer Queries resolution (Call Centre) • Reconciliation • Providing the Services to the Customers on Ground • First Point of Contact for any Customer queries/issues • Responsible for Customer KYC (If Applicable) • Display of Marketing Material at shop premises
About BC Agent Who are BC Agent • BC Agents are any Individual/kirana shop/medical shop/fair price shop/ Cyber Café/ Recharge shop/ Travel agent/ Any moms &pop store Business done by BC Agent • Domestic Money transfer & Mobile reacharge/ Cyber Café/ Travel tickets/ Kirana store/ Stationary store Problem Faced by BC Agent • Inadequate working capital, hence not able to increase business • Afraid of undergoing tedious documentation process to get a loan • Takes loan from informal channel at a very high rate of interest Travel ticketing DTH Recharge Cyber cafe Local Kirana Bill Payments Stationary Domestic Remittance Yes Money Agents Pre-Paid Card Issuance CMS
Our Business Transactional Data Without Human interference Instant W. I. S. H. Hardware Internet Hyper flexible Public Records Credit Data अ Literacy Accounting Data Simple All our loans are designed according to the WISH principle Proprietary Data Pioneering mobile lending in India • Providing Short term working capital for MSMEs • Credit Evaluation using Proprietary Big Data Analytics Social Data Using 2200+ variables to compute the LK Credit score • Building a Pan India scalable lending platform • Loans disbursed in 163 cities across 25 states sinception in July 2014.
Our Process Data collection Loan Terms proposed Filtering Credit Analysis Product pitching Documentation Disbursal
Outcome
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