HOME CREDIT INDIA
HCIN : Giving back to the community
He says of HCIN : “ Our services are simple , easy and fast , with a focus on enhancing credit penetration through responsible lending , which empowers our customers , who generally come from a demographic that is outside of the banking system . Basically , we enable them to access financing or credit easily and safely , in both online and offline modes .”
“ WE ARE OFFERING CUSTOMERS APPLICATIONS THAT ARE MEANINGFUL TO THEIR LIVES ”
MILAN DOLANSKY CHIEF DIGITAL OFFICER , HOME CREDIT INDIA
Dolansky points out that the main purpose of the parent HCI – especially in India – is to work on improving financial inclusion and opening access to the financial industry to the unprivileged segment of subprime . “ For that reason , a lot of our customers are first time borrowers or new to credit ,” he says , referring to the cultural aspect of lending in India , where those who have been bypassed by the traditional banking system , have , in the past , had to rely on loans from their communities , and in an environment where loan shark practices are rife .
“ In the Indian market , the credit card is an aspirational product ,” says Dolansky . “ There are 1.3 billion people in India but there are only tens of millions of credit cards . So , a big part of the population is aspiring to have a credit card one day . But the banks are much less flexible on who actually gets one .”
It is this rigidity in the traditional financial marketplace that HCIN is attempting to address through a number of innovations .
204 July 2022