"TO DRIVE INNOVATION IN BUSINESS, WE ARE LEVERAGING CLOUD COMPUTING, MOBILITY, ANALYTICS, SOCIAL NETWORKING AND IT"

STRESSING THE NEED FOR EXPANSION IS

THOMAS JOHN MUTHOOT

Promoted by the Muthoot Papachan Group, Muthoot Fincorp Limited provides almost all the products that a common man requires

Starting its journey with gold loans, Muthoot Fincorp Limited has now emerged as one of the most diversified NBFCs in India. Apart from gold loans, the company provides Small Business Loans, Two-wheeler Loans, Used Car Loans, Affordable Housing Loans, Loan against Property, and microfinance. “As part of our diversification strategy, we have entered into Forex, Money Transfer, Insurance Services, Wealth Management, and Affordable Housing Finance, among others,” shares Thomas John Muthoot, Chairman and Managing Director, Muthoot Fincorp Limited.

At present, the company has a network of over 3600 branches across India and is part of a conglomerate that has over 4200 branches with presence across various sectors. Highlighting the company’s strategy, Muthoot says, “We have a strong retail presence with a large customer base and consistent performance. The main strategy is to provide a bouquet of services to our customers and ensure that their needs are met at one point. Our plan is to convert our branches into a One Stop Financial Services Shop.”

Muthoot Fincorp is taking several measures to stay competitive in a dynamic environment. The company has invested in technology to enhance customer experience and ensure seamless service delivery. “To drive innovation in business, we are leveraging cloud computing, mobility, analytics, social networking and IT,” says Muthoot. The company has also embraced digital platforms to provide services and facilitate ease of transactions.

Muthoot Fincorp is also exploring new avenues for business expansion. “We have drawn a five-year plan, and we will continue to expand our branch network and increase penetration in semi-urban and rural markets. We are also looking at inorganic growth opportunities,” he adds. The company’s aim is to bring financial inclusion to the underbanked population and empower them with suitable financial solutions.

Muthoot Fincorp’s commitment to inclusive growth and customer-centric approach has helped it gain trust and build long-lasting relationships. “Our objective is to ensure that our services bring about a positive change in the lives of people and contribute to their economic well-being,” he concludes.