Over 5 lakh Muthoot Microfin customers using app to make loan repayments, group building superapp: Sadaf Sayeed

The Muthoot Pappachan Group is building a superapp, which will provide group services, said Sadaf Sayeed, chief executive officer of Muthoot Microfin, a microfinance entity part of the Muthoot Pappachan Group.”The superapp will provide all the services that are there within the group.. So the superapp will give customers the freedom to choose whatever product they want… so we are going in that direction,” Sayeed told ETBFSI.

On a company level, Sayeed said that Muthoot Microfin has relied a lot on technology, especially during the pandemic.”We realised that it was difficult to communicate with the customer during the pandemic, especially since MFIs (microfinance institutions) are a touch-and-feel business… So, we devised multiple methods for loan collection, using technology, like UPI, credit and debit cards, and we also developed an app,” Sayeed said.

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