cycle. One satisfied customer through word of mouth marketing communicates to the community and we get additional customers in turn.
What is your offline and online business ratio? Who are your offline and online partners for selling home finance products?
Our business model involves ‘touch and feel’; our customer enquires digitally, and the fulfilment happens physically. For our customer segment, physical presence is a matter of trust, therefore some of our businesses might come from intermediaries, but largely it is a community led business. Publicity and word of mouth are the primary source of customer acquisition and we don’t have any digital partners. In the future, we will work on customer acquisition system for online and community selling.
What are your expansion plans for 2020? What new products do you plan to launch?
We have an extremely secured SME lending business, hosing finance business and parent level asset-based financing business which is into truck and lorry finance. We are making sure that our customer gets protected through insurance, be it life or general. If the regulator allows us, we will introduce financial savings or micro savings products for our customers through appropriate tie ups.
In most of the affordable housing finance companies, 70% of their business comes from 2-3 states. But we have presence in the 11 states, and we will continue to deepen our presence in these states.
Which technologies are you focusing in 2020?
In 2020, we will introduce digital loan origination system, which will be installed in the BYOD devices of the front-end officers and backend team for superior business decision. We will integrate our channel partners and their portals. For the credit decision model, we have adopted logic regression technique which helps us in decision making. The integration of APIs will provide live data sources, scoring, statistical sciences and regression technique in our business models.