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U GRO Capital Adopts an Industry-first End-to-end Digital Lending Platform Powered by Decimal Technologies to Process SME Loan Applications in Under an Hour

Covai Post Network


U GRO Capital Limited, India’s leading technology focused, small business lending platform has partnered with a Fintech leader, Decimal Technologies, to process SME loan applications in under 60 minutes. It is an innovative system created by Decimal Technologies, making U GRO Capital the country’s first lending platform to offer a completely paperless Borrowing Experience. The technology facilitates processing of loan applications received for both secured and unsecured loans and extends to the disbursement process as well.


This path breaking initiative by U GRO Capital is in line with Prime Minister Narendra Modi’s Digital India Campaign, which is set to transform the entire BFSI industry by making process digital and hence real-time.


The Digital Loan Orientation System (DLOS) has been architected, designed and developed from scratch by the Fintech Leader using its in-house platform Vahana, in record time. Vahana is a revolutionary ‘No Code’ Digital Asset Management Platform developed by Decimal to build and manage digital assets for enterprises. The USP of Vahana lies in its product development lifecycle which comprises of 3 simple steps – Discover, Configure and Test, making it seamless and highly efficient.


Built with the motto "Create while you Ideate", Vahana Cloud Platform helps businesses design an application, integrate it with core systems as well as APIs and create end-to-end business solutions on a real time basis. With a robust underlying product-line, this platform helps rollout business innovations from mind to market much faster while allowing ongoing improvisation.


Speaking on the occasion, Shachindra Nath, Executive Chairman, U GRO Capital said, “At U GRO, our mission is ‘Solve the Unsolved’ Small Business Credit Needs. We believe that the problem of small businesses can be solved by building deep expertise around the key SME sectors in India coupled with an advanced technology platform. This Digital LOS tool built by our partner Decimal is aligned to this mission and tailor made to resolve loan disbursement related inefficiencies. We are confident this DLOS is going to take our problem-solving ability several notches higher and will create measurable impact in the SME ecosystem.”


U GRO Capital caters to specific SME sectors by using advanced knowledge of 8 sectors and 37 sub-sectors to create insightful loan products for each sub-sector. The Digital LOS uses a unique combination of intelligence & technology by applying sector specific statistical predictive modelling combined with data from over 25 financial & non-financial sources to understand the credit worthiness and eligibility of a customer. To bridge the credit gap for SMEs operating across 8 high potential sectors such as Auto Components, Chemicals, Education, Electrical Equipment & Components, Food Processing & FMCG, Hospitality, Healthcare and Light Engineering, the company has built a strong platform based on sector wise knowledge that will be supplemented by a fully integrated Technology & Analytics platform.


Speaking on the launch of the Digital LOS and partnership with U GRO, Lalit Mehta, Co-founder, Decimal Technologies said, “At Decimal Technologies, we are committed to the complete digitalization of the BFSI industry. We want to be the technology partners for all financial institutions as they transition from manual to digital processes and help them create solutions beyond boundaries of standard products and huge pains and efforts of bespoke development. Our ultimate objective is to alleviate the pain points of businesses while making the experience of end users efficient and hassle free. Our solutions are at the heart of award-winning applications such as Kotak 811, AU Abhi and now the Digital Lending Platform for U GRO.”  


About Decimal Technologies

Decimal Technologies is a leading Fintech organization offering digital solutions that enable Banks and NBFCs to digitise their customer on-boarding process and make sales force management effective. It owns up the entire cycle from conceptualization to designing, developing and managing Sales Enablement and Customer Acquisition Solutions. This helps expand market reach by 10X and at the same time reduce acquisition costs by 80%. Incepted in 2009, Decimal is led by a team of dynamic individuals including founders from IIMA who come with 100+ years of experience across industries such as BFSI, FMCG, Telecom, Automobile and Healthcare. Decimal Technologies invests heavily in fields of BFSI, Artificial Intelligence, Blockchain and Data Science. With a growing footprint across South East Asia, the Fintech leader is now all set to enter the US market.


About U GRO Capital Limited

U GRO Capital limited, (formerly known as Chokhani securities) is a BSE listed, technology focused, small business lending platform. The company is focused on addressing capital needs of small businesses operating in select eight sectors by providing customized loan solutions. U GRO mission is ‘Solve the Unsolved’ – the US$600 Bn Small Business Credit Need. U GRO believes that the problem of small businesses can be solved by building deep expertise around core sectors of SMEs in India coupled with a data centric, technology-enabled approach. The Company has raised ~INR 950 crore of capital from a diversified set of private equity funds, institutional investors and well-known family offices. U GRO Capital has shortlisted the 8 sectors basis an 18-month process involving extensive study of macro and micro economic parameters carried out in conjunction with market experts like CRISIL. The eight sectors shortlisted are Healthcare, Education, Chemicals, Food Processing/FMCG, Hospitality, Electrical Equipment and Components, Auto Components, Light Engineering. The company strives to build a strong SME financing platform based on sectorial understanding supplemented by a fully integrated technology and analytics platform.

Source: Newsvior

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