Muthoot: Sweetening the Customer Journey
Banking Frontiers|July 2021
Alexander George Muthoot claims that Muthoot Group’sIT teams have unique expertise in mobile development for multiple technologies to create powerful native and hybrid mobile apps
mehul

A cornerstone of the growth and development of the group across India and abroad is Alexander George Muthoot, Deputy Managing Director of the Muthoot Group. He heads the marketing, operations and international expansion of the group.

Mehul Dani: How is Muthoot’s digital strategy implemented in the last and current FY?

Alexander George Muthoot: Aggressive digital transformation agenda has been convincingly pursued by us as part of the digitization of Muthoot group over the last couple of years. This has helped us tremendously in providing superior customer convenience and achieving better speed and control of operations along with cost-effectiveness.

The current level of automation and digitization in the group has facilitated our customers to conduct major transactions such as applying for a gold loan online, interest repayments, loan-top-ups etc anytime, anywhere through Muthoot online web service and Muthoot mobile app. During the pandemic, the usage of our digital channels has increased exponentially. New initiatives such as Loan@Home and online interest payment options through Muthoot mobile app, Muthoot Online, UPI apps like PhonePe, Paytm, and Google Pay have been launched to enhance customer experience. Now our gold loan customers can even avail loan top-ups on their loan accounts with just a few taps, through WhatsApp.

Which are the technologies that are in use? Please give details about your IT team.

The Muthoot Group has 20 diversified business divisions and one of these is Emsyne – the dedicated IT division. Emsyne has a 200+ strong team of IT professionals, software engineers, programmers, project managers and senior leaders. It is dedicated to design, build and support all strategic software solutions to meet the company’s dynamic business needs in the ever-changing business environment. In addition to this, we have also dedicated in-house IT teams that manage our routine IT operations and branch support.

The Emsyne team specializes in Microsoft technology-based software solutions and has developed and deployed exclusive domain-specific solutions. These include top-of-the-line core banking solution, loan management solution, forex management solution, purchase and asset tracking system, human resource management system and CCTV surveillance system. All these are built and integrated on an agile, scalable platform streamlining and simplifying processes at the core banking, mobile banking and e-banking levels. The systems are highly modular, scalable and configurable giving banking and financial entities, the benefits of increased efficiencies, faster go-to-market, predictability of technology and better business results.

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