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An AI-Based Automated Loan Process Redefined Customer Experience for IIFL Customers

An AI-Based Automated Loan Process Redefined Customer Experience for IIFL Customers

Tech Stack

  • AI and ML
    AI and ML
  • Android
    Android
  • IOS
    IOS

About Client

IIFL is a prominent non-banking financial institution that offers a variety of mortgage and loan services. They offer microfinance, gold loans, home and business loans against property to SMEs. IIFL is an independent full-service institution with 2,372 branches in over 500 cities.

About Product

Our developers created a mobile app that allowed IIFL’s customers to experience a flawless loan journey. The team redesigned the application that allowed customers to track their existing loans, obtain account statements, and many more services. They ensured that customer data is protected securely in the app.
Product Banner
before

The Challenges

before-ring
Biometric authentication

Customers need a secure app to protect their financial details.

Biometric authentication
Brainvire’s experts implanted biometric authentication in the mobile app. This ensured data privacy. Customers can login securely with face identification, fingerprint, or mPIN.

Solution

The Challenges

Biometric authentication
Customers need a secure app to protect their financial details.

Brainvire’s experts implanted biometric authentication in the mobile app. This ensured data privacy. Customers can login securely with face identification, fingerprint, or mPIN.

Biometric authentication

Result

  • 5 million+ active users
    Brainvire’s team made necessary changes in the app. During COVID-19, these changes helped improve customers’ loan journeys and IIFL gained over 5 million active users.
  • Over 150 million of loan amount
    IIFL has gained over 150 million of loan amount to be managed. With a redesigned customer journey and improved app, customers spend more time on the app. This boosted cross sell and upsell activities.
  • Reduction in footfall at branches
    During the pandemic, the app helped customers to learn about their loan amounts, transactions, details, and other activities. 68% reduction of footfall at the branches was observed with this redesigned app.
  • 39% fewer support tickets
    IIFL staff received almost 39% fewer support tickets with this new app.

Product Screens

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Client Testimonials

Vaibhav Gupta
If any urgent needs arise, I can count on them to take care of things. Their deliverables are reliable thanks to vigorous QA testing. They are communicative, flexible, and willing to evolve to meet changing needs.
Vaibhav Gupta
Manager - IIFL
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152 Reviews

“Brainvire Infotech Inc is developing an Android and iOS app that allows customers to see loan details and apply for or renew loans. They’re also working on an app and website for the broking space.”

Vaibhav Gupta
Project Manager, Financial Services Group
5
2 months ago
Rate Us!
5.00/5 (204)