Beruflich Dokumente
Kultur Dokumente
JBIMS, Mumbai
Knowledge Partner Media Partner
Primary Research
The consumer insights and surveys were taken in
CONSUMER Thane and Nashik regions
Agenda Specifics
Details regarding the entire customer journey and
DEALERS Total 252 (Rural – 156, Urban – 96)
process of loan processing
Mode Survey / Interviews / FGD
Age Range 19 – 64 years
PROFESSORS Valuable assistance from professors and industry
/ EXPERTS Income Group 77% less than 10L
experts regarding the emerging trends
GUMNAAM, JBIMS
New Age Rural Consumer – Consumption Pattern
45% 17.5%
• Low brand loyalty & brand stickiness • Lack of consistency among channels
• Lack of customer recruitment schemes • Dependence on branch for services
Key MMFSL can achieve service & operational excellence by redesigning certain
Takeaway processes and activities by focusing on a customer-centric digital strategy.
GUMNAAM, JBIMS
Inefficient Loan Disbursal Process
Lead Generation FI Verification FI completion Document collection
• No progress/status report to dealer • Customer & field force contacted • Documents physically collected
• Lead source classification absent manually leads to delays • No system for central upload
Customer
Accounts dept. file
File creation Agreement Signing appointment for
checking
agreement signing
Key A time-motion analysis of the loan disbursal process reveals highly manual
Takeaway procedures, multiple hand-offs and a high TAT
GUMNAAM, JBIMS
A step towards Digital Innovation
Key Objectives Driven By Enabled By
• Reduce TAT
• Customer Management
• Reduce delays and errors
Software
• Channel integration • Redesigned Digital Process
• Handheld Tablets
• Empower employees • Access ON THE GO
• Dealer Portal
• Greater control • Centralized Access
• Management Information
• Scalability
Software
• Better customer experience
GUMNAAM, JBIMS
Redesigned Loan Disbursal Process
Auto-disbursal Sanction letter Timely Tele- A/Cs Dept. check Agreement signing
& closure generated & delivered Verification updated on CMS & CMS file creation
CCE
Leads
BE Customer Service
Key The centralized Customer Management Software will be accessible to the central
Takeaway office, branches, sales persons, collection agents and call center executives.
GUMNAAM, JBIMS
Customer Management Software Capabilities
CMS
CMS Lead Manager
Lead Name
TASK MANAGER Source Stage
Dealer XYO
CONTACTS WON Raghu Ram Closing
GUMNAAM, JBIMS
Customer Management Software Capabilities
Training Manuals Employee activity calendar
Product library Knowledge Task Dashboards
Relevant articles Base Manager Charts for tracking
Key The CMS is a holistic solution that increases overall sales productivity and
Takeaway efficiency; while making the processes scalable.
GUMNAAM, JBIMS
Areas for Improvement
Inadequate Customer Connect
Key MMFSL can achieve service & operational excellence by redesigning certain
Takeaway processes and activities by focusing on a customer-centric digital strategy.
GUMNAAM, JBIMS
Inadequate Customer Connect
Existing Systems
Customer Managers First Choice Sparsh
• Focus on near maturity & top-up • Focus on Refinance customers approaching • Focus on near-maturity contracts
customers maturity • 9 member team 5-6% conversion
• Unstructured mechanism
Problem Areas
Reach focused on mid/ end of tenure Risk of defection to competition during tenure
Lack of organized database & system Multiple calls & outdated information
Lack of follow up/ forwarding mechanism Opportunity cost from loss of business
Key
Ensure customer retention by timely follow-ups and cross-selling of products
Takeaway
GUMNAAM, JBIMS
Analyzing the Customer Journey
LOW EXPOSURE
ELIGIBLE FOR TOP-UP LOW EXPOSURE Need for Refinance
HIGH High chances of Need for New Loan Need for New Loan
EXPOSURE Conversion Proven track record – Low Risk Proven track record
Customer
On-Boarding
ELIGIBILITY PERIOD
NCR
MUMBAI
15
CHENNAI
Outreach: 306
40000 calls a month
Leads generated :139
Leads from 2nd & 3rd year from maturity = 68% 3000 converted leads
Key
High latent loan requirement in penultimate years
Takeaway
GUMNAAM, JBIMS
Areas for Improvement
Key MMFSL can achieve service & operational excellence by redesigning certain
Takeaway processes and activities by focusing on a customer-centric digital strategy.
GUMNAAM, JBIMS
Lack of Service Accessibility
Current Service Touchpoints Problem Areas
In-Branch Service
Excellent customer service Lack of Mobility
Customers Speak
Lack of Consistency
Field Service
Prompt service via BE Cost of Travel
Cost of Cash-Handling
Business Executive
Customers directly contact BE
Workload on BEs
MIS UPI
Enabled
By
Proposed Solution
Mobile
App
Mobile Digital
Banking Payments
Key To improve customer service MMFSL can create three new touchpoints while
Takeaway also improving channel integration through MIS
GUMNAAM, JBIMS
Customer Service Helpline
1800 777 9999
Customer Service Centers Services Offered
3 Centers 9 Languages
12 Customer Service Executives Queries/ Complaints New Loan Application
Key
Takeaway A toll-free service helpline will enable a satisfactory customer experience
GUMNAAM, JBIMS
A Case for Mobile Branch
PREAPPROVED
AUTO LOAN LOANLOAN
AUTO
12345ABCD
A/c
Late Payment Statements CONGRATULATIONS!
Rs. 982 You have a preapproved loan of
Rs 3,00,000 on Auto Loan
Charges Walk into your nearest Mahindra
Summary Pre- Finance branch to know more!
GUMNAAM, JBIMS
Mobile Branch Capabilities
YOU REFER WE
PRODUCTS & SCHEMES & PREFER
SERVICES
Product OFFERS Referral
Corporate Scheme @ Please enter details of
Auto Loan Library 10.99% only Scheme
SME Loan person you want to
Insurance refer:
Mutual Funds Government
Fixed Deposits Employee Scheme @
Commercial Vehicle Latest 11.49% only
Name:
Phone No:
Housing Loan Schemes
Used Car Loan Email ID:
Top up Loan & Offers SUBMIT
Online
Payment
Gateway
EMI
Calculator
GUMNAAM, JBIMS
A Case for Digital Payments
India is becoming a Digital Country
People Mobile Phone Users Internet Users Smart Phone Users
#2 in the world
GUMNAAM, JBIMS
UPI - Unified Payment Interface
Needs a Virtual Payment Address only
Hassle-free
Regular Cost of
Universality/
Payments handling cash
Reach
Key
Redefine Earn and Pay model using ‘One – Click’ EMI repayment using UPI
Takeaway
GUMNAAM, JBIMS
Areas for Improvement
GUMNAAM, JBIMS
MAHINDRA – Strong Brand Equity
Mobility B2B
• Construction Eq.
• After-Market • Industrial Eq.
• Boats • Steel
• Aerospace • Consulting
• Automotive • Logistics
Agriculture Urban
• Agribusiness Lifestyle
• Farm Equipment • Hospitality
• Real Estate
Information Financial • Retail
Technology $ Services
Key The companies within Mahindra group enjoy significant individual brand
Takeaway equity which must be leveraged to drive sales for Mahindra Finance
GUMNAAM, JBIMS
Strategic Tie Up -
End-to-End Agri Solutions Far- Reaching Movement Widespread Presence
OVERVIEW
Key There exists a strong strategic rationale for collaboration and leveraging
Takeaway strengths of Sammriddhi to increase awareness & revenue
GUMNAAM, JBIMS
Strategic Tie Up -
Widespread Presence Fast Growing Target - Tier II & III
OVERVIEW
Key
Great scope for collaboration and creating one-stop solution for used car market
Takeaway
GUMNAAM, JBIMS
Business outcome with Sammriddhi
Potential Revenue:
Rs 188 Cr
Lead
2%
Seamless
Lead Generation experience
Financer
2%
Agg. Loan Book: Rs. 3000 Cr
by 2020
Car Sellers
Revenue: Rs. 475 Crore
Lead
With key focus on the rural citizen, CSC is the single largest government
initiative to empower Rural India through digital infrastructure
Key
Potential to claim an additional 50,000 branches
Takeaway
GUMNAAM, JBIMS
CSC Loan Disbursal Process Map
CSC walk-in
Central Server
Sales pitch
Customer CSC VLE
Loan Disbursed
Nearest Mahindra
Finance Branch
Key Swift processes, well-trained VLEs to replicate the superior in-branch
Takeaway experience.
GUMNAAM, JBIMS
CSC Capabilities & Business Outcomes
300 customers/month
Monthly
per centre
footfall/centre
30
Lead Generation EMI Repayment Leads generated customers
(10%)
Leads converted 3
(10%)
Total Business opportunity: 3*12*50000 =
Client Servicing 18 lakhs customers
Key With multiple activities that replicate a branch and a wide-spread presence, the
Takeaway CSC allows us to support the dreams of many rural citizens.
GUMNAAM, JBIMS
SME Loan Portfolio
Present contribution MSME to GDP – 8%
Key MSME sector gathering steam, extensive Credit gap in MSME holds key to
Takeaway growth
GUMNAAM, JBIMS
Mahindra Finance & Power2SME tie up –
Unlocking the potential in SME lending
Products Sold
Business Outcome of
the tie up
Key
Partnership to ensure penetration in MSME market at low operational costs
Takeaway
GUMNAAM, JBIMS
E-commerce vendors-The New Age Rural Enterprise
Key E – commerce growing rapidly across rural India, need to stay ahead of the
Takeaway curve to reap benefits
GUMNAAM, JBIMS
Tie ups with Ecommerce sites to fund vendors
Key The strategic tie ups are going to foster our growth by contributing to the
Takeaway transformation of Bharat into India
GUMNAAM, JBIMS
Paradigm Shift in Rural Expenditure
Key There is a credit gap in financing rural consumption expenditure and it brings a
Takeaway big opportunity
GUMNAAM, JBIMS
Capture the Opportunity…
A pre-approved loan in the customer’s wallet
Pre-Approved Eligibility
Jiyo
Zindagi Minimal Documentation
Key The Jiyo Zindagi card is simply a smarter way to buy consumer durables, digital
Takeaway and lifestyle products.
GUMNAAM, JBIMS
Innovative. Inclusive. Inspiring.
A HOLISTIC OFFERING
Expenditure
Key The holistic offering meets the new-age rural consumer’s need for a smarter way
Takeaway to spend.
GUMNAAM, JBIMS
Use your Jiyo Zindagi Card anywhere
Place Jiyo
Zindagi Card in
Scan Card front of phone
Lifestyle Products Jewelers
Online Shopping
अब जो चाहो, वो पाओ Consumer
Durables/
amazon IRCTC
Electronics
Key Kiosk with integrated smartphones in retail outlets to make loan disbursal quick
Takeaway and simple
GUMNAAM, JBIMS
Co-Creation
Customer Recruitment Model
अब जो चाहो, वो पाओ
Key Multiple sales avenues enable us to reach as far as we can and recruit
Takeaway customers aggressively
GUMNAAM, JBIMS
Key Milestones
6678803
Customers
Reached 2797463
977500 CAGR = 21.19%
INR Crore 4571.6
Revenue 33.41%
1985.5
248.7 907.8
MH KA WB OR BR
Geographical TS GJ MP UK GO Wide
Reach TN KL PJ JH HP Presence
RJ UP HR CG AS
1 2 3 4 5 6 7 8 9 10
GUMNAAM, JBIMS
JBIMS, Mumbai
GUMNAAM, JBIMS
Proposed Referral Program
A Evaluating the Payout
Level 1 ASSUMPTION:
B C
Average ticket size = INR 5 lakh
Total clients gained = 6
Level 2
D Referral Program
E F G • Total Incentive paid out = INR 8000
• Ticket size : Payout = 375
We can nurture our customers into brand loyalists with the correct incentive scheme
GUMNAAM, JBIMS
Business outcome with Sammriddhi
Asset Units Ticket Conv. Rev/
size Rate
Tractor 22000 4.5 L 2.0% 990 Cr
GUMNAAM, JBIMS
A proactive growth strategy reflected in an extensive branch network
Coverage by Number of Branches Branch Network as of
1167 1172
1108
CAGR
14.83%
893
547
436
256
Below 10
10 - 30
30 - 70
• Mahindra Finance’s success has been characterized by a “physical” format” - customers and prospects are physically and personally met
Paradigm shift in occupation and consumption growth
Increase in per capita income indicated by Rising Share of agriculture
Expenditures 70.50%
62.80%
54.50%
48.40%
38.90%
29.90%
Share of non-agriculture
70.10%
61.10%
51.60%
45.50%
37.20%
29.50%