ATD Finance: Bringing Trust & Transparency To The Heart Of Digital Lending

Dr. Manoranjan Mohanty,ChairmanFinancial inclusion is a crucial aspect of improving the economic activity in every country, and in turn, it fosters economic growth by reducing income inequality and poverty. Faster financial inclusion, especially in rural India, will be crucial to the Indian government’s dream of becoming a $5 trillion economy by 2029. However, the governments and banks need help in bolstering financial inclusion in the country. This is where India’s crucial advancements in financial technology come into play.

The implications are pointing in the direction that the banks in the country are moving more toward the back end of things. This engenders an excellent opportunity for fintechs to directly connect with banks’ systems to build products on the banks’ regulated infrastructure using Banking-as-a- Service (BaaS). Fintechs could leverage BaaS to develop seamless, scalable financial products and experiences across and within borders. However, trust is at the heart of things in anything finance. Basing its operations on that critical element of trust has been the success formula for ATD Group. Established in 2002, ATD Group is one of India’s most recognized financial services companies. Being ready to adapt quickly and change has been another predominant ingredient of ATD Group’s success, excellent growth trajectory, and future prospects.

The financial services ecosystem ATD Group developed over the past two decades—with trustworthiness at the core today incorporates many companies, facilitating different consumer sections like Government, Private sector, and Individuals. From Education to Health, Social, Information Technology, Renewable Energy, Investment, and Finance, ATD Group caters to a wide horizon of business verticals. One of the group companies is ATD Financial Services (ATD Finance), an RBI-registered NBFC that extends loans and advances to prospective customers. Assisting ATD Finance in bringing the comprehensive benefits of the digital ecosystem are the ATD Money app and My Loan Bazara couple of other ventures from the group that are built on robust digital technology platforms to facilitate loans to the right customers.

The ‘Family’ Feeling
ATD Money app and My Loan Bazar provide all types of loans to customers who require urgent funds and can’t afford the huge documentation delays and physical visits to the branches and hesitate to ask for loans from their family members or friends. Whether tuition fees of children, Credit Card payments on due dates, or emergency health care, ATD Finance is just a few smartphone touches away. This creates a unique, family-like feeling among its customers. In truth, ATD has always been there when its customers needed help, offering assistance with utmost transparency. It peaked during the Covid-19 pandemic, as the company never stopped lending to clients who were not getting even regular salaries from their employers. It was quick to extend its hand to its customers in need.

These aspects have significantly polished the company’s impressive growth trajectory over the past two decades. When asked about the company’s approach, Dr. Manoranjan Mohanty, the Chairman of ATD Group and an award-winning entrepreneur didn’t have to think for a second. He asserts, “ATD Finance always believes in the trust and confidence of its clients. To create this trust and confidence, we have adopted a unique approach to benefit our borrowers. Our ROI is the least, and our processing is fast. There are no prepayment charges, the documentation is minimal, and the disbursements and collections are automated. Moreover, existing clients get loans in less than 10 minutes! Besides these USPs, we allow our borrowers to use our e-commerce platform to buy products and get complete interest paid as discounts”.

Ease of Access Powered By Technology
The ATD financing app, which can be downloaded and installed from Google Play, has an extremely userfriendly interface that provides application forms with step-by-step guidance and can be filled and submitted online for processing. The application is auto-processed with the required verification, and eligible files of clients are passed for further processing.

“We provide microfinancing as per RBI’s digital lending guidelines. Since we are doing everything digital and faceless, we have certain policies in place; for instance, our eligibility criteria include being a permanent employee of an organization, having cibil scores greater than or equal to 650, having a minimum monthly salary proportional to the loan amount, a family income of more than Rs.3 lakh per year, and no pending loans”, adjoins Dr. Manoranjan.

After due verification, the loan is approved, and the client gets a notification of the approval with all terms and conditions, and more, for the client’s acceptance. Once the client accepts it, a legal agreement will be signed digitally, and the loan will be disbursed automatically to the bank account provided by the client. An underlying robust technology framework powers ATD’s swift disbursal systems. In turn, it also helped the company establish transparency and trust with its customers. ATD provides its borrowers with comprehensive information about loan sanctioned, complete charges, Interest rates, terms and conditions, and privacy policy before loan approval and their acceptance. Furthermore, protecting customer data is a critical aspect of operations for any company in the modern-day fintech ecosystem. Clutching this elementary fact, ATD keeps complete care of its users’ personal information with world class data protection tools and techniques.

Behind the Success
While ATD Finance continues to set benchmarks in digital lending, winding back two decades, the company initially kick-started its journey with more than 80 percent manual processing. Witnessing the global technology boom, ATD Finance slowly digitized its process and operation. Today, the company performs hardly five percent manual interventions to complete a loan file. ATD Finance has successfully financed over 3.3 lakh customers in PAN India, constantly registering positive revenue.

ATD Finance always believes in the trust & confidence of its clients. To create this trust & confidence, we have adopted a unique approach for the benefit of our borrowers. Our ROI is the least, & our processing is fast

“The real spirit behind this entire ATD Group is my father’s principles and fighting spirit that he showed throughout his life. Without my father, I am nothing”, Dr. Manoranjan attributes the credit of his success to his father. He adds, “My father was a man of great honor who motivated me to reach these destinations of success. He always used to say that whatever you do in your life, what matters the most is how you serve your people—respect all and follow the path of honesty. These words became the cornerstone of ATD Group”. It’s no wonder extending financial inclusion in India by helping people deprived of getting loans conveniently for their emergency needs became the company’s motto.

Going forward, ATD Group has several diverse, sustainable development programs on the card. One of those plans is venturing into Electric Vehicle manufacturing in line with the government’s Make-in-India program. The company has already set up a manufacturing unit for e-vehicles. “I believe in creating more opportunities so that we can serve society and our people in a more specific manner”, concludes Dr. Manoranjan.

Dr. Manoranjan Mohanty, Chairman, ATD Group
With a strong finance background, Dr. Manoranjan deeply understands the financial market and the clients’ requirements. He designed the process considering the pain areas of the clients, the company’s resources, and the capability of handling the financial market demand.
Awards & Recognition:
• Delhi Gaurav Award
• National Gaurav Award
• Skoch Award (twice)
Offices: Noida (headquarters), Bhadrak, Jaipur, and Delhi

Key Management:
Kishan Sahoo: Kishan is one of the Directors of the company. Being an MBA in Finance with expertise in financial processing, he quickly comprehends the problems of clients and guides research and development of digital platforms.

Satyender Sharma: A software developer, Satyender handles all the technical requirements of the digital platform, which is effective and user-friendly.

Deepak Jha: Deepak is an MBA in Finance with a strong Finance background and experience in handling overall accounts of the group and clients and also enables fast grievance resolutions.

Sanjay Kumar: Sanjay is an MBA in Finance with an experience of more than 20 years. He handles all the RBI compliances, Policies, and Recoveries while also supporting several other group functions.

Reva Solanki & Rohit Kumar: A highly experienced digital marketing duo, Reva and Rohit help the brand to maintain its influential presence in the Industry.