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Arohan launches digital lending app
July 13, 2022
Arohan Financial Services on Tuesday launched a digital lending app for its existing customers having a good repayment track record to provide them an experience equivalent to that of privilege banking, an official said.
Another objective of introducing the lending app is to “raise collection efficiency ratio”, he said.
The app, ApnaArohan, will help its customers make repayments and other transactions through the digital mode and reduce physical interaction with the loan officers of the MFI, which is needed as the COVID pandemic has changed the entire business dynamics across sectors, Arohan Managing Director Manoj Kumar Nambiar said.
The AI-powered app will provide the microfinance company the “first-mover advantage” and help increase the outstanding portfolio from ₹4,500 crores, in June 2022, to around ₹5,100 crores by the end of the current financial year, he said.
This will also help complete digitalisation on disbursement and collection exercise of the MFI, Nambiar said.
During the pandemic, the collection efficiency ratio had dipped from the pre-COVID levels of around 99 per cent to around 60-70 percent, he said.
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