Loan Referral App

YES BANK / ART FINANCIAL

Summary

Yes Bank brings forth a digital solution aimed to provide hassle-free loans to help customers meet their immediate financial needs in a simple, convenient and secure manner.

Approach

With the AppExe technology of Mobilous, an enterprise grade and secure mobile App was developed to digitize a comprehensive process with following features:

Geographic areas are shortlisted as ones where our specific TG stay/ work i.e., the self-employed segment
Key targeting – Individuals like shopkeepers/ drivers/ pan shop owners.
Why will the TG take it up? The bank offers an excellent way to make incremental money without much effort and offers attractive SOPs to be earned.
Who will recruit these connectors? o Initially it will be done by a promotional agency where promoters will get in touch with people that fit above profile. They will recruit them, train them and download the Loan Referral App on their mobile. They will also demonstrate and teach the ease of filing in a referral through the App.

After the proof of concept (POC) has been successful, it will be handed over to the sales team for further recruitment of such connectors.
How will we track the data? The Lead identifier will be the mobile number on which the App is downloaded.
This will work like a campaign code for all referrals coming in and will be unique.
Is there any other medium where it can be done in such a smart and swift manner? WhatsApp could be the other medium. However, in its current state, it does not work very well for business process executions or even reporting for that matter. Once WhatsApp for Business API becomes a common currency, it can be tested as a model.

Client Benefit

The Yes bank Referral Program is available for existing and new users alike, who can refer their family and friends to apply for a loan from Yes Bank through this program. It offers 24/7 availability and user convenience while encouraging customers to choose Yes Bank for loans. And, if the referred person gets a loan, the referrer receives Rs. XYZ as the referral reward.