Client Overview
Bajaj Finserv is one of India’s largest FinTech lenders, offering a wide range of financial products. To streamline its loan approval process and improve compliance, Bajaj Finserv sought a digital-first, scalable solution for conducting mandatory Personal Discussion (PD) sessions with loan applicants.
Challenge
Traditionally, PD sessions required manual, in-person visits by field agents, leading to:
- Delays in loan approvals
- Increased operational costs
- Limited scalability in rural/low-network regions
- Risk of human error and inconsistent data capture
Bajaj Finserv needed a secure, configurable, and scalable video-based PD solution, capable of running in low bandwidth areas (~170 Kbps) and handling multiple lending products.
Solution
Think360.ai, a subsidiary of Computer Age Management Services (CAMS), delivered an end-to-end Video PD platform called KwikID, including:
- Product software: Lightweight, modular, low-latency video platform (KwikID)
- Infra management: Scalable cloud setup with high uptime
- Support & Training: Continuous support, training sessions, and consultation
- Security & Compliance: Built-in encryption, secure storage, and compliance-ready architecture
The system seamlessly integrates with Bajaj Finserv's internal processes, ensuring smooth data flow and audit readiness.
Video PD Process Flow
- Selfie with Liveness Check
- PAN Verification: OCR extraction + Face Match with selfie
- Aadhaar Verification: OCR extraction + Face Match
- Shop Verification: Document upload, External & Internal shop photos
- Utility Verification: Electricity bill capture
- Personal Discussion: 3–5 randomly selected questions from a pool of 30
- Session Closure: Auto-sync with internal systems for final verification
Tech Stack Highlights
- Lightweight, modern framework (KwikID) optimized for low-bandwidth conditions
- Secure, encrypted video transmission
- API-driven, fully configurable workflows
- Integrated with Bajaj Finserv’s loan management system
Impact
| Metric | Before Video PD | After Video PD |
|---|---|---|
| Turnaround Time (TAT) | 1–2 days (manual visit) | ~15–20 minutes (digital) |
| Network Dependence | Needed strong mobile data | Works in 170+ Kbps zones |
| Compliance | Manual recordkeeping | Automated, audit-ready |
| Scalability | Limited | Pan-India scalability |
| Operational Cost | High (field agent cost) | Reduced by ~50%+ |
| User Experience | Inconvenient | Seamless, app-driven |
Conclusion
With KwikID, Think360.ai helped Bajaj Finserv transform its loan application process from a slow, manual workflow to a fast, scalable, and compliant digital journey—achieving faster disbursals, reduced costs, and improved customer satisfaction.