One of India’s leading digital NBFCs, Clix Capital, which recently raised $40 million has built a great customer service despite lockdown. Founded by Pramod Bhasin and Anil Chawla, the lending platform now has a loan book size of Rs 5,000 crore in the unsecured personal loan category in a short span of four years. This has been disbursed across varied segments, particularly consumer finance and MSMEs.
Just before the lockdown, the company established a business continuity plan, much before any of its peers, to ensure a seamless customer experience. The idea was to facilitate social distancing for their customer’s safety, a safe working environment for employees and a disruption-free service for customers. Resources were made available as needed across teams, as Clix had built capacity (in terms of human resources and technology) wherever required during this time.
Pramod Bhasin, Founder & Chairman – Clix Capital, said: “At Clix, we continuously strive to bridge the credit gap in unserved and underserved segments such as new-to-credit customers and MSMEs. In meeting this objective, we deploy cutting-edge technologies and insightful innovations for driving lending models responsive to the end-customers’ needs while significantly boosting financial inclusion. The Company will continue its steady credit quality-led growth, focussing on the retail-lending segment in FY2021.”
The company made a business continuity plan as soon as first COVID-19 case was registered in India. While most companies are working in limited capacity, Clix has successfully setup a full-fledged workforce team and deployed a work-from-home setup for the entire organization including the contact center.
A customer centric organisation, Clix recently launched Kaira – an AI-powered virtual assistant for all lending needs. At the click of a button, Kaira helps customers check credit scores, loan eligibility, EMI, insurance calculation as well as in accessing bespoke loan offerings. Besides, the new tool helps customers in applying for loans within 10 seconds and enables 500 million WhatsApp users in India access credit at their fingertips. The company has also reached out to all its customers to update them on their status of moratorium requests thereby also training contact center staff to help customers make decisions basis the impact of moratorium on their loans. Various tools like morat impact calculator have been made available to the team. Clix also ensured no penal charges are levied for customers availing moratorium during the period.
Prakash Shetty, COO – Clix Capital, said, “At Clix, customer experience is at the core of everything we do. Our focus is on listening to customers and understanding their requirements. We are pleased about providing best-in-class experiences to our customers during this ongoing period of difficulty and uncertainty. Our AI-enabled bot Maya is a first-of-its-kind initiative in India’s lending space. We will continue innovating and aspiring to emerge as the most-sought-after financier in the country.”
Clix is working towards its vision of making lending products available to Indians seamlessly by using WhatsApp. Research, availability and loan lifecycle management of lending products are now super-easy and convenient. Eligible persons can avail loans at the click of a button.
Its strong focus on technology and strategic partnerships has helped Clix scale up and expand its footprint to three million customers within four years. This was achieved via a strong franchise network of fast-growing businesses across SME lending, consumer finance, mortgages and equipment finance.
To keep its staff motivated and engaged during the lockdown, Clix has enabled an Employee Assistance Program, which is offering doctors’ and counselor access as needed. We are providing online fitness access, regular team hustles, online team games, etc
The Company offers a full spectrum of financing solutions across five business segments – Corporate Finance, Equipment Finance & Leasing, SME Finance, Consumer Finance, and Housing Finance. For providing unparalleled credit access and seamless experiences to customers, the Company leverages data and deep analytics. Sound risk management practices and a heavy focus on data-driven decision-making help Clix maintain its great portfolio quality.