Arohan Financial Services Limited | Annual Report 2022-23

Digitalised operational processes In its business of catering to the credit needs of 2.1 mn customers, Arohan’s IT system currently captures over 300 different data points per customer and facilitates over 20 lakh transactions every single day through the company’s steady Loan Management System. To facilitate data-driven decision-making, Arohan has created a Data Warehouse for business intelligence and data analytics. This has enabled the generation of data-rich dashboards and reports for consumption by all field staff and management, enhancing operational efficiency and informed decision-making. One of the key measures through which Arohan has implemented a mobile-first approach is by equipping all field employees with mobile or tablet devices. This has enabled employees to be in touch with customers virtually, irrespective of external environments. Arohan has also implemented a Bring Your Own Device (BYOD) guideline, allowing employees to use their own mobile devices for work. Arohan has prudently invested in its information technology systems to introduce a range of automated and digitalised technology platforms and tools tomake its operational processes more efficient and effective. Extensive use of cloud technologies helps Arohan maintain customer connect and drive employee productivity. Some of the key tools and platforms that Arohan has implemented over the years, and those that form the bedrock of the future that the Company is navigating towards include: • Profile: A Core Banking System from FIS to manage the overall lending business and strengthen the company’s back-end systems. Being the first NBFC- MFI to be on a Core Banking System, as dynamic as Profile, enables Arohan to undertake and manage volume like no other in the industry. • MeraArohan: A proprietary all-in-one suite of mobile applications, in line with the vision of ‘Digital Arohan,’ which enables all core business functions and other non-core activities to be digitally executed. MeraArohan covers all facets of Loan Origination, Repayments and Recoveries, Cross-Sell marketplace, Internal Audit system, Field Monitoring application, Document Management System, and many more modules spanning every aspect of operations and business support. • ApnaArohan: In FY 2023, Arohan enhanced the capabilities of its customer-facing mobile app, ApnaArohan. As an industry-first initiative, the app facilitates for a select group of customers - ArohanPrivilege, the facility of getting a loan within 10minutes after a successful loan application on the mobile app. Apart from digital lending capabilities, the app is equippedwith regional language facilities for millions of customers across geographies and allows the customer to view information on their loan ledger, and check eligibility for more loans, products, insurance details, etc. The app also provides them with access to the various cross-sell products, offers an additional platform for grievance redressal, and connect with our field officers using voice or text-based features. • Prismatic: Arohan uses CRIF High Mark’s “Prismatic” data analytics for its area selection process when expanding into new geographies. • Diligent: A comprehensive corporate governance software that manages all board-related activities in a paperless, transparent, and timely manner. This has led to reduced usage of and dependence on physical documents, ultimately increasing security and reducing turn-around time as well as costs. • Nirnay: A credit scoring model, in partnership with CRIF’s digital decisioning platform, “StrategyOne,” which is customizable and supports streamlining lending processes and controlling credit risk. With the help of selected technology vendors, the company has built a technology platform that helps it maintain consistent levels of customer service, enhanceoperational efficiencies andcreate sustainable advantages for the organisation. Completely paperless customer lifecycle management Arohan’s continuous adoption of digital service delivery mechanisms makes the Company not just future-ready but also more efficient, undertaking even more reliable data analytics, resulting in target customer profiling and customized products with risk- based pricing to deliver greater customer satisfaction. The technology platform has been integrated into the loan lifecycle of the Company, from branch area selection to loan origination, data validation, quality check, and repayment monitoring. • To beginwith, when entering into newgeographies, the Company uses analytics from CRIF High Mark to analyze various business factors such as portfolio quality and competition. 47 | Annual Report 2022-23