Joint Liability Group (JLG) is a lending model that enables a group of individuals (usually five) to take a group loan, wherein the responsibility of loan recovery lies on all the group members. JLG-based credit is an industry proven concept and it has been successfully implemented in several countries. In India, JLG-based lending is tightly monitored by the regulator, and its success is yet to reach its pinnacle.
Our solution provides a platform to source and service the members of the groups. It also offers a unique value proposition to our clients and their customers through a secure lending mechanism.
The unique differentiation comes from our pan-India operations that boast of penetration, deeper than any other organised banking technology. This technology effectively works in varied environments to capture information and acquire customers at the convenience of their doorstep.
Fino Paytech works on two models:
1. Portfolio is created on bankbooks, with FINO providing end-to-end services at a low cost
2. Portfolio is created on Intrepid Leasing
Leveraging innovative technology for all business aspects, right from customer sourcing to loan repayment, not only helps in strong monitoring, MIS and risk mitigation, but it also significantly lowers the operating costs.
JLG is a bank-led lending model with a robust loan sanction process