Digital Technology Enhancing Productivity

The general sense is that availing a home loan is a cumbersome process. With time, technology has evolved the Housing Finance space immensely. With deeper internet penetration across the country, it has become easier for corporates to reach and interact with customers online. At IIFL Home Finance, we have embraced technology to create a seamless platform for our customers and integrated technology across all facets of our businesses.

Our Technological Prowess Encompassing Our Digital Reach and Capabilities

Jhatpat Loan

Our Home loans can now be disbursed within 24 hours. The turnaround time has also been brought down for our non-Home loans to just two days. The process of collating data, powered by fintech integration, takes only 25 minutes. It allows users to fill up fewer fields and yet provides our underwriting team with digitally-verified data.

  • Introduced Loan Against Property (LAP) under our initiative Jhatpat, bringing the advantage for Business Rule Managers (BRM) for LAP cases
  • Expected to decommission the manual archaic loan origination system
  • Also assigned approved leads directly to customers
  • Thereby, removing the cost of the lead call center and reducing the hassle of call center calls to the customer

Digital Customer Onboarding and Disbursal

We rank amongst the top HFCs in the digital disbursement of home loans and secured business loans. During the year, we continued focusing on digitization and analytics. This helped us improve customer experience and enable a convenient one-stop-shop for customers’ loan requirements. We shifted to almost 99% digital onboarding and achieved 100% disbursal in 2021-22 through our digital platform.

Digital Customer Onboarding Journey

Seamless Customer Experience

We continued strengthening the customer service experience through our endeavors. We established Customer Service Category-based automation of workflows. This helped with resolutions of tickets across channels like mobile app, web portal, website, chatbot and WhatsApp with DIY process for categories covering approximately 75% of ticket volume.

75% Customer Service Tickets

Handled by the automated Do-It-Yourself (DIY) tech-enabled solutions


Enhanced Collection Efficiency

To further the digitization of omni channel collection process - we have automated IVRs, digital notices on WhatsApp and launched vernacular communications for better customer engagement. We have also launched a dedicated portal for the listing of auction properties as a first step to create online marketplace for interested customers.

New Digital Initiatives

Hyper Local Web Pages

All IIFL Home Finance branches are listed on Google My Business (GMB). These local pages allow us to engage with customers. A customer can reach any local branch (identified basis his/her search location), apply for a loan, or raise a complaint or service-related request.

New Analytics-enabled Website

During the year, we launched a dedicated website for the potential and existing IIFL Home Finance customers – The website has been custom-made in six regional languages for the ease of customers. The portal is also enabled with Analytics on website visitors and their needs and behaviours.

Understanding Customer Sentiments Using Technology

By implementing Brand Watch – a social media-listening tool –we can listen to our customers’ and target audiences’ sentiments. These sentiments and audience demographics help us monitor the brand image and build custom communication campaigns through our social media handles.

Best-in-class Technology and Digital Solutions

We have simplified our processes with best-in-class technology and digital platforms across all the facets of our business. We have always aimed to improve efficiency, operational consistency, and cost-effectiveness, thereby laying a solid platform for future growth. We’ve created effective solutions that provide our consumers with a consistent experience at every stage, from application to online payment.

Our emphasis on technology has resulted in
Faster turnaround times
Reduced process duplication
Increased productivity
Reduced overall cost-to-income ratio

In terms of profitability, with the digitally verified data, we have brought down the cost per file by 11 %, and our cost to income has come down to 21.9%.

Aligned with our vision of sustainability, our new digital initiatives have helped us save 21,40,620 sheets of paper

Data Security and Customer Privacy

Data security and customer privacy are considered among the most material topics and hold a top priority for us and our stakeholders. As digital solutions continue to expand and integrate into our daily lives, we see increasing concerns related to privacy and security breaches. We have built an integrated tech-empowered organization that is well-placed to face this changing technology landscape.

In line with this, our customers are regularly sensitized towards data privacy standards maintained within the organization, e.g., we inform our customers that their private data is primarily under our control, and we store all data within the reputable and verified data centers and cloud services.

Apart from this, we seek consent before using customer information and ensure the following measures to safeguard their data:

Data Centre Perimeter and Cloud Services are secured with a firewall from the internet
End-point security controls implemented such as Next-Generation Endpoint Antivirus, USB Access and Admin Access on desktops and laptops are controlled
Security patching is conducted regularly for servers
Regular security awareness is carried out through mailers, Learning Management System (LMS) and classroom training & periodic email phishing simulation exercise is conducted
VAPT assessments are conductedregularly
Cyber insurance cover is taken to protect the organization from financial loss in case of a cyber attack or data breach
Periodic IT and security audits are conducted by internal & external auditors
Public-facing web applications are protected by the Web Application Firewall
Privileged Access is controlled via Privileged Identity Management (PIM)
User Access review is conducted at least on a half-yearly basis
Brand Protection & Dark Web Monitoring Services regularly undertaken to protect the brand and information
Secure VPN Solution is implemented for remote access

In the event of a potential breach, we follow a robust process to ensure an effective response, which includes:

  • Customer Service forwards the complaint received. The incident management team and the concerned department look into it
  • Cyber security emergency response team manages the incidents of breach of customer privacy
  • The complaint is addressed within 15 minutes to ensure immediate or earliest resolution

We emphasize on having the right technology, systems, policies, processes and talent in place to mitigate the risks arising from cyber security. We are ISO 27001:2013 certified, which testifies for the good practices being followed for managing Information Security. The Chief Information Security Officer is responsible for Information Security and Business Security Management Framework at IIFL Home Finance.

Besides, our Incident Management plan is well documented and undergoes regular internal and external audits. It covers customer data breaches, ransomware and hacking, intrusion into our network, virus attack and malware attack.

0 complaints

No complaints concerning breaches of customer privacy from outside parties and regulatory bodies, received to date.

In 2021-22, none of our loan customers were affected or raised any concerns regrading his/her data or personal details breach.