Motilal Oswal Home Loans Streamlines Onboarding with Digitap Solutions

PayMe Case Study

Motilal Oswal Home Loans, offered by Motilal Oswal Home Finance Limited, caters to the growing need for homeownership in India. They specialize in providing loans for property purchase with competitive interest rates (starting from 11.75% p.a.) and flexible repayment options for up to 25 years. They're known for their fast processing times and cater to the needs of first-time homebuyers as well.

Challenges

Motilal Oswal Home Loans, a leading provider of home loan solutions in India, sought to improve the customer experience during the onboarding process. Traditional methods often involved manual document verification and data entry, leading to delays, potential errors, and a less-than-ideal experience for applicants. Additionally, ensuring compliance with KYC regulations added another layer of complexity.

Solutions Explored

Motilal Oswal partnered with Digitap, a leading provider of digital identity verification and document analysis solutions. Motilal implemented a suite of solutions designed to streamline onboarding and enhance customer experience:

  • Facematch & Liveness:

    This solution utilizes facial recognition technology to verify the applicant's identity against their government-issued ID documents. Liveness checks ensure the applicant is physically present during the verification process, preventing fraud attempts.

  • Aadhaar e-KYC:

    Digitap's Aadhaar e-KYC integration allows for secure and instant verification of customer information using India's unique identification system.

  • Bank Statement Parsing & Analyzer:

    This solution automates the extraction and analysis of financial data from bank statements. This not only reduces manual work but also improves data accuracy.

Quote:

"At Motilal Oswal Home Loans, we're constantly striving to improve the customer experience throughout the home loan journey. Partnering with Digitap has been a game-changer in this regard. Their suite of solutions has significantly streamlined our customer onboarding process, while ensuring security and compliance. We're delighted with the positive impact it has had on our business and our customers." - Motilal Oswal Home Loans Team**

Conclusion:

Motilal Oswal Home Loans' partnership with Digitap demonstrates the power of digital identity verification and document analysis solutions in streamlining the customer onboarding process. By leveraging these innovative technologies, Motilal Oswal has been able to improve customer experience, increase operational efficiency, and ensure compliance with KYC regulations. This case study serves as a valuable example for other financial institutions seeking to improve their onboarding processes and provide a superior customer experience.