Ameyo, an omnichannel customer engagement platform, today announced that it has been selected by The Muthoot Group, the largest gold loan provider in India as well as around the globe, as the Video KYC solution provider for their Loan@Home service.
The demand for the Gold loan has increased in the post-COVID-19 world from both the MSME and the unorganized sector. To meet this growing demand amid the COVID-19 restrictions, Muthoot has launched its Loan@Home service to provide customers with the gold loan from the comfort of their homes without having to visit the branch in this contactless world.
The Loan@Home inquiry once verified and accepted, is forwarded for Video KYC in real-time which is followed by an appointment for a visit by loan executive. Reducing the dependency on walk-in customers, Muthoot is continuously working on optimizing customer journeys and reducing the time spent in the process.
Sobhit Bhaskaran, Head of Loan@Home service says, “We chose Ameyo’s Video KYC solution over 5 other vendors due to its seamless integration into our customer’s journey. The solution has enabled us to meet our KPI of reducing the time spent at the customer’s place from 1 hour to under 15 mins.”
Sachin Bhatia, Global Sales & Marketing Head at Ameyo mentions, “Ameyo’s Video KYC solution works at low mobile bandwidth and tested with 80+ devices which will enable the Muthoot Group to onboard its customers which are spread across 5,000+ branches across India. We are glad to be part of their digital transformation journey with Loan@Home app-based digital service”
Ameyo’s Video KYC engagement platform enables Regulated Entities (REs) to reduce onboarding dropoffs by 20% with omnichannel capabilities and reduce the cost of KYC by up to 90%
