AzPulmat: Digitizing Microcredit Services with Cyberneid’s Innovative Solutions
AzPul, a leading Azerbaijani company, provides citizens with a groundbreaking microcredit service, AzPulMat, enabling them to borrow small sums and repay them over short periods. This app is a vital tool for users to monitor debt information, receive timely payment notifications, review active loan contracts, and stay updated on relevant financial matters. However, AzPul faced challenges related to identity verification and document management, which were crucial to maintaining trust and operational efficiency in their services.
AzPul partnered with Cyberneid to address these challenges, integrating IdentiKYC and Instasign technologies to enhance their digital ecosystem.
Objectives
- Prevent Identity Theft: Ensure secure and accurate identity verification to protect customers and the company.
- Digitize the Contracting Process: Eliminate manual workflows to streamline loan approvals and contract management.
- Enhance Reputation and Trust: Build user confidence through secure, efficient, and transparent services.
The Solution
1. Integration of Identikyc
Identikyc technology was implemented to automate and enhance the customer verification process. The solution verifies the authenticity of identity documents in real-time and matches them with biometric data to ensure accuracy.
- Benefits:
- Prevented identity theft through robust verification methods.
- Reduced manual errors and accelerated onboarding.
- Enhanced compliance with financial regulations.
2. Adoption of Instasign
Instasign allowed AzPul to digitize its contract signing process, ensuring that all agreements were securely signed and legally binding.
- Benefits:
- Minimized fraudulent activity associated with paper-based contracts.
- Enabled customers to sign agreements from anywhere, reducing time-to-loan disbursement.
- Lowered operational costs by removing the need for physical documentation.
Results and impact
AzPul’s collaboration with Cyberneid yielded significant improvements across several key metrics:
- Reduction in fraudulent activities: Identity-related fraud dropped by 92%, enhancing overall trust in the AzPulMat platform.
- Faster onboarding: Customer onboarding time was reduced by 70%, allowing quicker access to microcredit services.
- Improved customer satisfaction: The simplified and secure processes increased user satisfaction by 45%.
- Cost efficiency: Operational costs related to manual processes and paper-based documentation were reduced by 80%.
Conclusion
Through integrating IdentiKYC and Instasign, AzPul successfully transformed its microcredit service into a secure, efficient, and user-friendly platform. By automating key processes and ensuring compliance with regulatory standards, AzPul not only mitigated risks but also enhanced customer trust and operational efficiency.
Cyberneid continues to empower financial institutions like AzPul with innovative solutions, driving success in the evolving digital landscape.
Ready to redefine your financial services? Partner with Cyberneid today!
