Rupeek Achieves Gold Standard for Stakeholder Experience with Salesforce, CIO News, ET CIO

Indian households are sitting on a hoard of around 25,000 tonnes of gold worth over $1.4 trillion at current prices. The question is how do you turn this enormous wealth – much of it sitting idle in homes or bank lockers – into a productive asset?

Fintech firm Rupeek believes the answer lies in monetizing gold by using it to solve consumer credit problems. It was this vision that inspired Rupeek to introduce one of the first home-based gold lending services in India – the first of many technological disruptions by the company that could change the future of gold monetization ( GoMon) in India.

For Rupeek, over the past 3 years, loan disbursements have grown 50x from an annual rate of around $20 million to around $1 billion, a first among Indian loan-backed startups. assets and is well positioned to expand its presence in over 35 cities & 6 lending partners currently in over 120 cities & ~10 lenders by the end of the year.

In this interview, Aditya Sriram, Head of Customer Experience at Rupeek, discusses how they leveraged Salesforce to deliver a seamless customer experience, while realizing their vision of monetizing India’s gold for economic progress.

Refine customer service strategies

Rupeek’s processes and customer interactions are all designed to ensure that customers feel confident when entrusting their gold to the company. Agents collect and release the gold directly to the customer’s doorstep for their convenience. The gold is also stored in trusted partner banks to ensure safety.

We pride ourselves on providing a secure, easy and frictionless gold lending experience. This continues beyond the loan origination phase, through to post-disbursement where clients can request that their loan be closed, renewed or topped up.

These steps require seamless coordination between multiple Rupeek teams, including support teams that register and manage customer inquiries, back-office teams that track loan payments, and field operations teams that work with the banks to release and return the client’s gold.

Previously, teams relied on a hodgepodge of spreadsheets, CRM, and ticketing tools. This siled approach fragmented our view of customer data, which made it difficult to coordinate and track post-disbursement activities, especially as the business grew faster.

To scale quickly, we needed to automate our workflows and improve team productivity. We also wanted to deliver smoother customer experiences, which meant integrating our processes, data and pipelines. With Salesforce, we could do all of this and more.

Dazzling customers with seamless omnichannel service

By leveraging Salesforce Service Cloud, we have streamlined and automated our post-disbursement processes. Customers can now issue a service request or query through the Rupeek self-service application, call center, email or, more recently, Service Cloud enabled chat functionality. Data from these channels flows directly into Salesforce, giving teams a consolidated customer view to enable omnichannel service. Even though our chat feature is still in a pilot stage, 10% to 12% of our customers are already resolving their queries through this tool.

All post-disbursement teams are unified on a single platform, so that they can more easily coordinate client requests. All the data they need is instantly available in a single source of truth. With the kind of workflow we’ve put in place, teams anywhere can connect to a customer support ticket to track its status, monitor turnaround time, and verify that SLAs are being met. This information helps us serve our customers faster and smarter.

Enrich the employee experience with powerful productivity tools

Previously, teams had to repeatedly call customers to gather their information and confirm their contact details. But with a unified customer view, the number of calls went down by 20-30%. Agents can now handle and close customer inquiries in a single call. This frees up their time to serve more customers.

With process optimization comes efficiency. What used to take teams six hours can now be done in three hours, resulting in a 50% improvement in productivity. The teams on the ground are happier. They can easily access data, track escalations, and easily escalate tickets from one department to another. We’ve made Salesforce our stakeholder experience platform, the foundation upon which our customers, employees, and business can thrive.

Empower decision-making with a wealth of information

With rich reports and dashboards on Salesforce, we can now monitor service processes at a granular level and unlock optimization opportunities. Our reporting and data tools are fantastic. Metrics we couldn’t capture before are now instantly available. Decision-making has also become more efficient and data-driven.

Processes such as balancing our books are extremely complex as they involve various loans, primary lenders, banks, accounts and more. Implementing Tableau Analytics has allowed us to improve accounting accuracy and simplify the process of reconciling credit and debit transactions.

We worked closely with Aethereus Consulting to optimize the implementation of Salesforce. Of all the partners we evaluated, Aethereus is the team that really understood our goals. They have also adapted very well to our fast pace as a startup. Together, we created solutions, built architecture, and solved complex Salesforce challenges.

Golden opportunities ahead

At Rupeek, our goal is to unify the entire customer journey on Salesforce – from marketing and lead generation, to servicing and closing loans. The resulting 360-degree customer view will help teams deliver a truly connected and personalized experience across all touchpoints.

On a broader level, we hope to create more innovative products aligned with gold monetization (GoMon), diversify into other asset classes, integrate with larger balance sheet lenders, and expand their network of distribution.

We want to build an entire economy around gold that will propel India’s growth in the coming decades. Technologies like Salesforce will help us achieve this vision seamlessly.

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