While no two banking customers are identical, financial companies usually treat them the same way at a price. When a one-size-fits-all service concept fails to suit the needs of certain segments, customers and financial institutions feel a negative impact. The unserved or under served is one such segment. According to research by a credit information company, nearly 480 million adult Indians under the age of 65 or half of the whole population in the earning segment, are credit unserved.

Also, in global research conducted by TransUnion CIBIL, an additional 164 million people were classed as credit underserved, with only 179 million falling into the credit served group. Therefore, to cope, the unserved or underserved customers resort to alternative trusted financial partners rather than their traditional banking connection to meet their financial needs. This is where Fingel Management Services with core values of Respect, Simplicity, and Transparency step into the picture.

Fingel Management Services made its debut in 2021 with a vision to provide credit support to the last mile customers, especially underserved or unserved customers, in association with lenders who predominantly have a rural base. While doing so, Fingel provides best-in-class service to customers, maintains complete transparency with customers, and adds value to both ends of the value chain customers and lenders.

“Most of our customers are from rural areas, and their main pain point is that their banking needs are not met, both in terms of liabilities and assets. We collaborate with our lenders to meet these needs and deepen our

relationship with our customers,” says Pravin, Director of Fingel Management Services Pvt. Ltd.

Converging Service & Technology
Fingel has raised the bar to a new high by serving unserved or underserved customers with lenders who understand the needs of these customers and solve those needs with technology. The Pune headquartered company does all business processes using technology, keeping in mind its commitment towards customers with 100 percent transparency and best-in-class service and towards lenders by building a quality portfolio. It provides Joint Liability Group(JLG) micro lending solutions, liability solutions(Saving, RD) to its customer. By virtue of this, Fingel inculcates saving habits to the segment of population which normally is not accustomed this.

Fingel has raised the bar to a new high by serving unserved or underserved customers with lenders who understand the needs of these customers and solve those needs with technology

Since its inception, Fingel has completed one cycle of micro finance products for its customers. The company is contemplating the next phase of product rollout of Individual Loans for income generation activities. “Our product is unsecured, so the risk factor in such a product is non-repayment. The methodical way we carry out our business process of customer communication, customer vetting, loan disbursement, and collection helps us mitigate this risk. We are proud that we have 100 percent collection effind lockdown last year,” he adds.

Fingel employs the most up-to-date loan origination and loan management solutions. The company uses the mobile app or the PC to complete all business processes. The business application contains information about consumers’ credit scores, which aids in credit under writing. Fingel trains its well nit staff of 55 professionals, and the process they use has allowed them to maintain a healthy relationship with its customers, with a 100 percent repayment record. With offices in Mumbai, Pune, and Ahmednagar, Fingel has firmed up plans to expand its services to Maharashtra, Karnataka, Gujarat, and other states with the introduction of allied products as well as a customer segment.