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Piramal Enterprises to launch a retail Phygital lending platform

The financial services arm of Piramal Enterprises is working on a multi-product retail lending platform, it informed the investors in the Q1, FY21 results

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The financial services business of Piramal Enterprises is actively involved in setting up a Phygital, but digital-at-the-core led multi-product retail lending platform and has hired a top level team working on the platform. This will be one of the key strategic priorities in the coming quarter, for Piramal Enterprises, the company said in the Q1, FY 21 results.

The rollout phase will be as below.

Product strategy
In FY 21, the focus will be on affordable housing loans, mass affluent housing loans and secured business loans.

Channel Strategy
The Phygital approach will have Digital-at-the-core model supported withwith physical channels for Customer acquisition and collections. The company will also enter into strategic partnerships for customer access at scale, distribution, and data access. The hub and spoke model will have tech led regional offices. It also involves centralised digital fulfillments.

The digital backbone of the phygital platform is being readied with a future ready tech stack. It is built with a combination of internally engineered and off the shelf tech. The technology platform will be cloud native, AI and ML ready. The architecture will be API enabled and deeply integrated with the India stack.

A team of 14 senior team members has been hired. The overall team strength will have 379 employees.

The processes and risk management is being worked upon with a focus on underwriting, collections. Analytics is deeply woven into every aspect of the platform. Keeping the customer ease in mind, the customer journeys are being meticulously planned coupled with digital process design.


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