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Paisabazaar Aims to Enable Financial Inclusion through Multi-city Recruitment Drive, Tech-driven Platform

Paisabazaar’s strengthened technology-driven infrastructure enables advisors to connect with customers remotely

The fintech plans to use multi-lingual advisors to drive awareness

It is recruiting local talent across multiple cities to build competencies in offering assistance in regional languages

Also in the works are multilingual AI-enabled smartbots that would provide access to information in local languages

Paisabazaar.com, a digital marketplace for lending products and credit score platform, announced today that it is expanding its operational capacities, by launching completely work-from-home employment policy for its operations workforce and hiring regional talent from multiple cities.

Before the pandemic, Paisabazaar’s almost entire workforce was largely based in and around its Gurgaon headquarters. However, in the last 15 months, the fintech has built strong internal competencies that now enables its advisors to serve the needs of customers remotely, from anywhere in the country. While there were challenges in the initial few weeks last year, Paisabazaar says productivity and business efficiency has gone up considerably in its work-from-home model.

“Like most players in the financial services industry, we too were unprepared for the sudden lockdown last year. However, over the next few months, we significantly strengthened our in-house infrastructure to adapt to the new external environment. Equipped with this, we have embarked on a remote work model for our operations vertical. This allows Paisabazaar’s advisors to instantly connect with customers and assist them in availing credit seamlessly,” said Naveen Kukreja, CEO & Co-founder, Paisabazaar.com.

Launching multiple city recruitment drives

According to Paisabazaar, its advanced CRM system enabling remote access from anywhere, anytime is not just cost-effective and convenient during times like these but is also a complete game-changer with respect to the expansion of its operations, vis–vis onboarding regional talent in geographies without physical presence of an office and building its repertoire in assisting consumers in a language of their choice.

Towards this, Paisabazaar has launched recruitment drives in Chennai and Indore. Over the next few months, it plans to do similar drives in multiple cities, including Delhi – NCR, across the country.

Paisabazaar receives ~1 million enquires for loans and credit cards in a month from more than hundreds of cities and towns in India. It says having a large and diverse team of multi-lingual advisors to serve these customers is critical, as most need assistance in choosing the best-suited lending product from the platform. This team of highly trained advisors not only offer advice on the right offer to each customer but also provide them end-to-end assistance through the entire lending process.

“Taking a loan can be stressful for customers as the need is usually immediate, and often for a major life-goal, and it also comes with significant financial implications. Having an expert to guide you through this process can add immense value. Along with offering a wide choice of products to choose from and completely digital processes, we are focussed on assisting each customer till the last step,” said Naveen Kukreja.

Building awareness through regional languages

Paisabazaar says it strives to continuously innovate to provide its consumers with convenience and comfort while interacting on its platform. A key driver here will be providing access to jargon-free information and advice in multiple languages, which helps increase financial literacy and enables the right financial decisions.

In 2020, it became the only player in the country to offer consumers their free credit report in regional languages. Today, a customer can get his free credit report from Paisabazaar in Hindi, Marathi, Tamil, Telugu, and Kannada.

The next step for Paisabazaar in pursuing the use of regional languages to deepen consumer awareness is to offer expert advice to consumers coming to its platform in a language of their choice. Through recruitments in specific locations, Paisabazaar intends to break the language barrier. In the next couple of months, it plans to hire and train multi-lingual local talent, proficient in regional languages.

Paisabazaar says offering the right advice on the best product and most-suitable offer is key with respect to driving financial inclusion and expanding the access of credit across geographies and income brackets.

“With digitization, access to credit is going beyond the big metro cities and truly reaching smaller cities and towns. We have seen language often leads to operational challenges while aiding consumers. Local personnel, who can communicate in regional languages and understand the region’s cultural nuances, would help us provide assistance to large consumer segments more effectively and hopefully, also enhance the customer experience,” said Dhiraj Kalra, Senior Director, Operations, Paisabazaar.com.

Paisabazaar is also using new technologies to innovate and offer digital solutions, through regional languages. Its technology vertical is working towards developing multi-lingual AI-powered NLP Smartbots that would be able to provide specific answers to customer queries, through a conversational interaction.

These Smartbots would be really useful for consumers with lower financial literacy or those who are comfortable in communicating in only their local language.

About Paisabazaar.com

Paisabazaar.com is a lending marketplace & Credit Score Platform

The platform has 70+ partnerships with Indias leading Banks, NBFCs, Credit Bureaus and fintech lenders

Paisabazaar offers products across lending categories to cater to the credit needs of varied consumer segments visiting its platform

Paisabazaar also runs a credit awareness initiative, by offering consumers their free credit report with lifetime tracking

The platform has been conferred with Excellence in Consumer Lending award by India Digital Awards, AT “Best BFSI Brand”, Most Innovative Lending Platform by India Fintech Forum, Money Tech “Start-up of the Year” and Money Tech “Best Customer Experience Innovation” awards, among other recognitions

Paisabazaar.com is part of PB Fintech that also owns PolicyBazaar.com

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