Gold Loans Transfer through FinMetGold
We believe that everyone deserves the right to fast, secure, and affordable loans.
Service Offering
FinMet's offering is an operating model to deliver Gold Loans via a digital platform to the client's doorstep by providing:
Onboarding (including KYC) and loan documentation
Testing of the Jewellery
Instant disbursement at Home
Transportation of jewelry to the bank
Fully insured transportation of jewelry
Return of Jewellery in a prompt manner
Our Process
Customer Journey & Comparison
Apply Online
- Self-service Application Submission
- Nudges to sales
Borrower On-boarding
- OCR and Open API to increase digitization
- Digital verification to KYC
Accept Offer
- Proxy Income and alternate data underwriting model
- Approval based on the data points
- Continuous learning-enabled model
Verify & Disburse
- Digitized confirmation process
- Instant Disbursement into Customer Account/ Cash
Process Flow & Norms
KYC
Digital Know Your Customer (KYC) Verification of the customer is performed by the online system of FinMet.
Profiling
A preliminary KYC will be performed by the customer through the FinMet portal to increase the conversion rate of requests.
Gold Management
FinMet will partner with a security agency for the physical management of the gold ornaments.
Sanction & Disbursal
Bank will disburse the loan only after Bank receives the confirmation of acceptance of the jewelry by the FinMet team.
Collection
The loan balance shall be noted by Bank. Loan Management will be performed solely by Bank, with no intervention from FinMet.
Closure
In case of closure, the customer starts a request on the FinMet online portal and notes the closure amount (To be collected from Bank).