Kinara Capital Digitizes MSME Loan Disbursement From End-To-End
Region
India
Employee Size
1600+
Industry
Financial Services
Region
India
Employee Size
1600+
Industry
Financial Services
“Integrating with SignDesk’s document automation has further digitized our loan disbursement process for our customers, who can now e-sign at their convenience, at any time of the day. SignDesk has decreased our turnaround time for closing by enhancing critical steps of the process such as document franking.”
Thiru R,
Chief Operating Officer, Kinara Capital
Kinara Capital is a fast-growing fintech propelling the growth and financial inclusion of small business entrepreneurs in India. The company is globally recognized for disrupting MSME financing with easily accessible, collateral-free loans, and has been qualified as a Systemically Important NBFC by the Reserve Bank of India.
Well-managed loan disbursement cycles are the objective of every lending group but creating these streamlined loan processes was a pressing challenge for Kinara Capital.
High franking expenses
- Kinara struggled to reconcile franking expenses
across its various locations with agents tending to overcharge for franking
Decentralized processes
- There was no easy way to track
procurement costs for individual stamp papers as the franking process was distributed across
locations
Inefficient loan execution
- Teams had to coordinate
between bank stakeholders & clients to get documentation stamped & signed on time
Long repayment cycles
- A reliance on paper NACH resulted
in 10-20 day long cycles for NACH registration & repayment
Digital Stamping
- Stamp paper procurement was accelerated and loan
stamping was tracked & managed on a smart dashboard
E-Signature Workflows
- Kinara could speed up
sanction-to-execute cycles & push multiple loan agreements for signatures at once
NACH-Powered Auto Credit - Timely loan repayments were ensured using eMandate APIs
Kinara’s goal was to digitize both front-end and back-end processes to move towards an overall Fintech vision, so there was a need for automation tools to streamline this process. SignDesk offered three solutions to help revamp loan cycles.
SignDesk’s streamlined eStamping workflow and extensive stamp paper vendor network helped Kinara exercise better control over the loan sanction process. Teams could upload several loan document batches at once and download eStamped agreements in minutes, this enabled high process visibility and improved efficiency.
Once loan agreements were eStamped, they could be pushed instantly for E-Signatures. Customers could sign these from anywhere, which further reduced logistical challenges.
Subsequently, mandates were created & registered in real-time using APIs, customers authenticated these mandates instantly via OTP or their bank details, and the requisite amounts were auto-credited regularly to Kinara’s corporate account.
Read How Kinara Capital leveraged eSignatures, eStamping & NACH APIs to expedite franking & automate loan cycles from onboarding to repayment.
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