NBFCs are taking a crucial part in financial inclusion, particularly in the rural and semi-urban regions. Nevertheless, accessing the clients in the remote areas tends to create a problem in the documentation, verification, and lending the loan out. And here is where Aadhaar eSign will perform wonders.
Using Aadhaar eSign, borrowers can make instant signatures on their mobile phones on loan applications, consent forms, and KYC documents. No physical visits to the branch are necessary, and this makes it easier for the population in rural areas to access the financial services.
The Aadhaar eSign solution by Meon gives NBFCs a safe, legally binding, and scalable digital signature environment. NBFCs can onboard their customers in a matter of minutes using Aadhaar OTP authentication—no paperwork, no courier delays, and no additional expenses.
This online innovation does not only accelerate the process of loan disbursement but also lowers operational costs. It removes distance and delays, making financial services more accessible to the rural Indian customers.
With the implementation of the business eSign technology developed by Meon, NBFCs have an opportunity to increase their coverage to the underserved markets, preserving compliance and security. It is a win-win for both lenders and borrowers.
👉 Reference: Meon Aadhaar eSign
