Through our partner network we plan to expand our unique proprietary platform “Digibis” and develop products and solutions that are tailored to each stage of the business life cycle for each small business owner.

How does the NeoGrowth daily payment model help make loans affordable and accessible to small businesses?

We pioneered the daily payroll model 8 years ago in the NBFC ecosystem, and today most of our portfolio is based on that model. It is more affordable than a one-time payment, so our customers have become the preferred payment method for small business owners. 60% of our portfolio is currently paid daily. The payment process has been made simpler and more convenient as our customers can use different payment methods from other offline channels.

Neo Growth Credit Accelerates Initial Approach to Financial Recovery Technology. What does this involve?

As an organization, we are moving towards a completely seamless digital experience for our customers, the whole process – from lead generation to credit source, sanction, payment and stock – all managed with minimal human intervention. Technology is a huge force in everything we do. We have equipped our teams with digital assets for various lending stages. Our Sales Application allows you to 100% digitalize and track loan application for our sales team. Generating top management in conjunction with instant incentive payments ouYouNite portal is specially designed for DSAs (direct sales agents). A.D. Launched in 2020-21, the ‘Customer App’ helps their customers access and manage their credit bills, and our MSME customers can also use our special ‘Merchant Portal’ to sign in, log in, apply for services and make loan payments.

Please tell us about the NeoGrowth type of loan. How are these loans helping small businesses grow and achieve their goals?

Our product portfolio extends from secure loans (Plus loans) to secure, instant, end-to-end digital delivery (NeoCash Insta). We offer business loans to MSMEs with daily payment options. Through our providers, we address various ailments of MSME borrowers, such as document shortages or credit history. Along with their credit requirements, we help MSMs digitize a variety of businesses through our ‘diGibizz’ platform. We recommend Digital Food Solutions through our partners network. They range from managing these payments digitally to creating their own business websites through DGB. Today, more than 37,000 small businesses are participating in the forum.

NeoGrowth makes extensive use of Deep Analytics to adjust and improve its credit risk models to adapt to changing market conditions and macroeconomic conditions. How can modern technology help you improve your business productivity?

Analysis serves as a tool to solve problems in all functions in Neo Growth. Our in-house analytics team supports the optimization and modeling of our risk scorecards on lead management, acquisition, collection strategy and credit card improvement. Our HR team uses the in-house HireSmart analytics tool, which takes key metrics from CV to predict a candidate’s performance and longevity with the organization. This helps the team to identify inappropriate exercise.

Please share your vision for neo-growth in 2022 Fintech’s new evolution.

Digitization will continue to be an important factor for financial services, especially in the area of ​​SME, as the ecosystem focuses on digital financial inclusion. Product customization is key to the success of any Fintech offering. For NeoGrowth, digitalisation of MSME loans is always a focus, even before the epidemic. This year, we are building a digital framework to engage customers in a customized, paperless and non-conflict ecosystem and promote financial inclusion.

What is your opinion on the new lending models being developed in India?

With the advent of digital fingerprints and the availability of third-party information to verify and write, lending is becoming more flexible, scalable and customizable for lenders. We are looking at switching from a traditional accounting system to a flow-based loan system. In my opinion, the next two years will enable the account aggregator framework to level the playing field and democratize regular and equitable credit access.

Please let us know about your future expansion and funding plans. What growth strategies are you planning to adopt in 2022?

Our strategic focus is to address the financial needs of small businesses using the technology-enabled overall digital payment ecosystem. We will continue to build a cash flow model based on cash flow. Through our partner network we plan to expand our unique proprietary platform “Digibis” and develop products and solutions that are tailored to each stage of the business life cycle for each small business owner.

How many small businesses are involved with the platform today? What are your goals for the coming year? How much progress do you intend to make?

We currently have over 20,000 credit merchants with us and over 37,000 digital users. In all, we aim to reach 70,000 MSMEs by April 2022 with loans and digit offers. We will continue to focus on digital debt and the daily payment model.

A.D. How much debt did NeoGroz pay off in 2021 and which sector was most in need of credit?

NeoGrowth’s current AUM is approximately 1500 kroner, with a new monthly loan rate of INR 150+ crores. NeoGrowth serves two industry segments: the retail and supply chain in the SME environment. By the middle of 2021, demand was high for both sectors of the economy.