By Nikhil Kaushal, Rang De Team
If one wonders what keeps the Rang De operations team busy and how a profile of a borrower comes up on the web for social investors to browse through, here are a few insights.
The “Uploading of profiles” process, as we call it, is considered to be our most important and time bound activity. The idea is to bring the the borrower profiles up on the web as quickly as possible for the
social investors to see and invest. This helps the team in raising funds quickly.
The application process starts from the field, where loans officers of our field partners processes loan applications and takes digital photographs of the borrower.The photographs are taken at borrower’s place of business, this helps in visually communicating the purpose of loan. The applications are of course processed by the loan officers after a due diligence process.
The applications then reach Rang De and the screening process starts. At times there are information gaps in the application forms and more information is sought from the field. One of the key challenges in the whole process is the information gap in loan application process. Data relating to family, health, assets, education status, income, expenditure and loan is captured and it takes a lot of hand holding for the field partners to correctly fill in all the required data. Once the applications are screened and and team is satisfied, data is fed into the system and the profiles are published.
Ops team works with a target of 2 days from the date of receipt of applications to publishing of data. So, just in case you observe a delay, a photograph mismatch, a typo or anything of that sort you know whom to catch hold off!
Bricks and bouquets are always welcome 🙂