Shubham Housing to leverage AI / ML for advanced analytics

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Shubham Housing is leveraging cloud technology to help build happy homes. India has made great strides in digitizing the financial services system with the largest segment of the population ever recorded in the country’s banking system today.

Yet a significant portion of the population is underserved in terms of access to formal credit, including home loans. Shubham Housing Development Finance Co. Ltd. responds to this segment by providing formal housing finance solutions to those with informal incomes.

Shubham Housing decided to partner with Oracle to take advantage of Oracle Cloud Infrastructure. They recently moved their workloads to OCI in order to optimize their operating costs as well as improve overall performance and ensure scalability to cope with future growth.

Here, Abhinav Arya, CIO, Shubham Housing, tells us more. Excerpts from an interview:

QD: Can you share with us tendencies to concern in the NBFC space?

Abhinav Arya: VSconsumers’ mobile-oriented attitude is convincing NBFC To develop mobile-first business models and processes To to reinforce to hireelement. With affordable smartphones and unlimited The data low cost packages, most users are now mobile. In reality, 90 percent of new visitors to our website contact us via the mobile way.

This NAorganizations this to build adaptive platforms and intuitive omnichannel experience processes to engage consumers instantly, will experience sustained long-term success. Moreover, consumers prefer to evaluate and even apply for loans online.. So, NBFC are designis lyingAutomated digital loan journeys with no / minimal offline processes. It is only a matter of time when we will see NBFC startTocompetee with FinTech companies in this area.

Another trend that we are observeis lying is not ithe the subsequent digitization mortgage ecosystem in our country. The influx of modern technologies, combined with the government’s desire to accelerateDdigitalisation overall, are disturbis lying the NBFC ways work. To take property documents for example, who is going now figureAl,with unique property username allocation tagged for exact geographic coordinates.

QD: How are NBFC advlaunch of universal financial access in our country?

Abhinav Arya: The contribution of NBFC in driveinclusive growth is very important, especially in a country like India. A large majority of people living in rural areas now have access to financial services because of the NBFC. This segment also includes people work in the informal sectors.

Because of NBFC ‘ Deep relationshipswith customers, good ideas on regional market dynamics, proven recovery process and personalized services, we even see self-employed professionals, individuals and traders introduced as part of the formal loan system.

NBFCs are also one of the key sectors for job creation in India, given the amount of economic activity they drive pan india.

QD: How has ShubhamSuccess summer trip in the housing finance space?

Abhinav Arya: We were a of the first entrants in theaffordable housing space. EThe advantage of anticipation has certainly helped us, like we were able to develop a understandment of the market. From day one, we have jobed very hard To realze our vision – promote financial inclusion and bringing those who are employed in the informal income segment within the framework of the formal and dominant economy – and help transform their quality of life.

Our business model is very robust. As a company, we have always had a strong focus on modern technologynology led innovation and operational excellence. We were one of the first one companies in India for emigrate of traditional, document-based subscription, To offerpersonalized credit programs for our customers. We continue to develop our loan portfolio, add new initiatives as we follow a regular frequency.

QD: How? ‘Or’ What have you treated the challenges generated by pandemic Last year?

Abhinav Arya: Our strong technological base and the collective determination of all our employees have helped us meet the challenges of the past year. We have strengthened our BCP strategy to make it more agile, and with minimal adjustments, we have configured all employees for transparent remote work. quite fast.

we consulted the situation as an opportunity to do some soul-searching and see how we might improve business resilience. We introduces new innovative services, includeis lying a mobile assistance service, a video conferencing based personal chat applicationand one WhatsApp based commitment/servicee channel, to name a few.

It is also important to have the right technology partnerships when such unforeseen situations arise. Oour strategic partnership with Oracle has played a key role in helping us keep our business running smoothly, resulting in minimal disruption to our customers.

We have moved our basic loan ‘Finnone Neo’ system by Nucleus Software, To Oracleis secure, second generation vsstrong Iinfrastructure. Through go to Oscrape VSstrong Iinfrastructure, we to achieveed 2x improvement in application performance more 25% Additional cost savings compared our former cloud provider. This has helped us improve business agility and strengthen customer-centric innovation initiatives.

QD: What are your growth plans? How? ‘Or’ What Do you see Technologynovelties contribute to business growth?

Abhinav Arya: The next steps in our digital journey will focus on Salestargeted mobility solutions for the customertargeted service channelsspannmobile apps, social media channels, such as WhatsApp, To deliver a healthy omnichannel in-house experience and external customers.

As part of this process, we are extend our cloud journey from cloud infrastructure to middleware systems. This can support easy interoperability and multimodal interactions in full transparency with the basic systems. In collaboration with tthe Oracle team, we are on the right track fortransforming our app experience for all stakeholders.

We will try to type IA / ML for Advanced aanalytic in the coming months to accelerate the knowledge and decision cycle, helping us to assesscustomer feeling and preferences better, to better personalize our services. There is also a plan for set up cloud-based data.

In addition, we intend to exploit FinTech API like face match, Video KYC, electronic signature technologies and assimilate these inTo our omboarding process.


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