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Autonom8 has announced a strategic partnership with Ziel Fintech. The collaboration aims to revolutionise the latter's loan origination (LOS) process by leveraging technology and smart processes. Autonom8 is providing key functionalities to speed up and streamline Ziel Fintech's LOS process.
Ziel Fintech will implement A8Studio v3.0, an Autonom8 solution, to augment its loan origination process. The technology can handle data entry tasks, verify documents, and smoothly maintain customer communication, allowing for increased operational streamlining and heightened efficiency.
The collaborative venture also provides assisted loan processing features from Autonom8, facilitating an upgraded customer experience for Ziel Fintech during the entire loan application process. This means from the moment a customer submits an application to the final approval stage, the customer journey is enhanced, likely leading to increased satisfaction rates.
Furthermore, Autonom8's A8iQ analytics provide critical insights into the loan origination cycle. Features include analysis of application volumes, approval rates, and customer demographics. With access to these details, Ziel Fintech is empowered to make data-driven decisions for the betterment of its lending strategies and help improve business outcomes.
"We are thrilled to partner with Ziel Fintech to drive innovation and efficiency in the fintech industry," said Mr Kameswaran Subbaraman, VP of Engineering at Autonom8, regarding this newly formed partnership. He added, "With our advanced hyperautomation solution, Ziel Fintech can elevate its operational capabilities and deliver a superior customer experience."
Ziel Fintech, a lending service provider with headquarters in Gurgaon and a network across northern India, was established a mere two years ago. Despite its relatively young age, the company has already disbursed over 500 crore in loans to an expanding customer base exceeding 20,000. Its business model focuses on serving as a distribution platform connecting lenders and customers. Appropriately designed credit underwriting models help evaluate customer eligibility, thereby facilitating the efficient granting of loans.
Ziel Fintech's operations primarily cater to the emerging middle class in Tier 2 to 6 towns, with a particular focus on small businesses. By addressing this segment, Ziel is contributing substantially to improved financial inclusion in smaller towns. The company's operations hinge heavily on its ability to leverage technology to improve turnaround times. They handpick customers more effectively, underwrite loans accurately, and cut down turnaround times via their tech-reliant strategy. This emphasis on technology ensures the loan disbursal process remains smooth and accessible, even in areas with potentially limited traditional banking services.
