Dvara KGFS Introduces E-Signature Feature to Simplify Rural Loan Access Amid Pandemic
Dvara KGFS, a leading technology-backed NBFC committed to enhancing financial well-being across rural India, has launched an innovative e-signature feature designed to streamline loan documentation while ensuring adherence to pandemic safety protocols.
This groundbreaking feature, integrated into KGFS Assist—Dvara KGFS’s in-house developed front-end app—allows customers to apply for and process loans effortlessly from their own devices, eliminating the need for physical paperwork, manual signatures, and cumbersome document uploads. This digital transformation provides a safer, faster, and more convenient loan experience from the comfort of home.
Mr. Murty LVLN, Deputy CEO of Dvara KGFS, highlighted the efficiency gains, stating, "With our deep understanding of the market, we have successfully reduced the Turn Around Time (TAT) for Joint Liability Group (JLG) and Micro-Enterprise Loan (MEL) disbursements to 4 days and 2 days respectively. This improvement has simplified loan disbursement and enrollment, enabling more beneficiaries and setting new internal benchmarks."
KGFS Assist is a customer-centric app with extensive integration capabilities that supports innovative loan solutions, ensuring customers receive the best possible service.
On the new e-signature feature, Mr. Joby C O, CEO of Dvara KGFS, said, "We partnered with Legality to integrate e-sign capabilities into KGFS Assist to simplify the loan approval process. This seamless and time-saving feature supports continuous service delivery while maintaining safety by digitizing loan document records and eliminating the need for physical storage. It enhances the overall customer experience."
Once loan documents are approved and uploaded, branch staff request customer signatures via mobile phones or tablets through a secure two-step authentication process involving Mobile OTP and Mobile Signatures. These signatures are automatically applied to the relevant documents, which are then stored securely in the ERP system. While most documents can be e-signed, certain legal documents still require physical signatures.
This innovation has enabled customers to access financial products without exposure to pandemic risks and has significantly reduced operational time by removing the need for document downloading, scanning, and uploading.
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