Siddharth Agarwal, Founder and Managing Director, Mobicule Technologies on Phygital Debt Resolution

Mobicule is a pioneer in digital debt collection platform with over two decades of experience.

1) What are the most common challenges in Debt Resolution? 

Debt resolution faces challenges in inadequate lender-borrower communication due to traditional, intrusive methods that provoke borrower resistance. However, digital debt resolution platforms now leverage SMS, WhatsApp, and email for personalised communication, addressing this challenge effectively. Another critical issue is reliance on manual, subjective decision-making processes in the industry, causing inefficiencies due to lack of real-time data. Modern platforms provide comprehensive borrower insights, including payment history, financial status, and behaviour. Customised recovery strategies use advanced analytics and machine learning enhancing the likelihood of successful debt resolution.

2) How AI is playing a role in Debt Resolution?

Previously, debt resolution used call-and-respond methods, leading to errors and reputation issues. Advanced AI has revolutionised this by optimising efficiency, saving time and costs in debt resolution. AI has also introduced automated channels such as SMS, voice bots, WhatsApp, and emails, improving customer engagement and satisfaction, and minimising losses during recovery. AI further predicts defaults by analysing real-time data and borrower behaviour, enabling personalised, customer-focused strategies by lenders and debt resolution agencies thus significantly enhancing debt collection and recovery effectiveness.

3)What sets Mobicule Technologies apart?

Mobicule distinguishes itself in the debt resolution industry through its early entry, leveraging extensive experience and in-depth market knowledge. Our pioneering end-to-end platform provides a comprehensive view of the borrower’s journey from early to late delinquency stages. Operating effectively in rural markets have enhanced our ability for cash collection, positioning us uniquely in managing diverse portfolio scenarios and catering to Bharat. Despite prevalent cyber threats and fraud risks, we have successfully penetrated this segment. Mobicule’s platform fosters mobility in debt resolution, optimises lender operations, automates allocations, and facilitates collections via multiple modes, including cheque, cash, UPI, debit, POS, AEPS, and offline capabilities. This ensures uninterrupted operations, even in low-connectivity areas. With a robust portfolio encompassing 40+ clients and serving 400,000+ daily users, processing over 10 million transactions, our commitment to advancing debt recovery and collection is unparalleled.

4) How is Mobicule overcoming the traditional loan recovery challenges through its Phygital Debt Resolution Platform?

Mobicule’s technological advancements have innovated debt resolution, introducing "phygital" platform that blends physical and digital strategies to resolve traditional loan recovery issues. Our phygital debt resolution platform is pivotal in enhancing communication, employing data-driven decisions, cutting operational costs, improving customer experience, and streamlining processes. We provides a more efficient, cost-effective, and customer-centric approach to debt resolution, benefiting both lenders and borrowers. As the financial sector progresses, Mobicule is poised to set a new benchmark in loan recovery practices.

5) What are the unique features of Mobicule’s Industry First Phygital Resolution platform mCollect?

Mobicule’s mCollect platform has disrupted debt collection by blending AI technology with human interaction to minimise bounce rates and enhance efficiency. Traditionally, banks and NBFCs handle cases digitally first, then escalate unresolved ones to contact centres, resulting in inefficiencies and increased expenses. Mobicule integrates a 100-plus seater multilingual, multi-city contact centre with digital outreach, providing an omni-channel solution. This platform optimises digital and human synergies, leveraging real-time customer interactions and behaviour. It covers all stages of delinquency, including settlement, asset repossession, and legal workflow management, supported by legal experts, aiming to improve recovery rates and lower costs for financial institutions.

7) Why has Mobicule launched Phygital Notice?

Mobicule has recently launched a secure, intelligent “Print to Post” solution for managing the printing and dispatching of Phygital legal notices. Capable of dispatching 2.4 million notices per month, Mobicule aims to reduce operational costs for customers by 30%. As a recognised leader in phygital debt resolution and digital customer on-boarding in India, Mobicule’s single-click Print to Post solution, Phygital Notice marks a significant advancement in their debt resolution journey. By integrating physical and digital communications, this innovative service enhances customer satisfaction and boosts financial performance, reinforcing Mobicule's revolutionary impact and deep penetration in the debt resolution and loan recovery space. This service will further streamline the delivery of both physical and digital communications to enhance customer satisfaction and boost financial performance.

8) How will Phygital Notice assist financial institutions in handling their extensive needs for printing and dispatching physical legal notices?

Financial institutions, corporations, legal firms, and government agencies frequently encounter difficulties managing the extensive printing and distribution needs of physical legal notices. Challenges include high operational costs, printing inefficiencies, compliance with security regulations, delivery errors, logistical complexities, and updating delivery statuses. Maintaining regulatory compliance and data security further complicates operations, increasing costs and inefficiencies.

Mobicule's Phygital Notice provides an efficient, reliable, and cost-effective solution to these challenges. Traditional methods of printing, packaging, posting, and tracking legal notices often lead to inefficiencies and errors, risking consumer data. Addressing these concerns, we developed a streamlined Phygital solution with one-click print-to-post functionality. This approach seamlessly integrates digital and physical processes, eliminating manual steps and reducing errors. Users can initiate the entire process with a single click, managing document creation, printing, addressing, and dispatching efficiently. Leveraging digital technology improves tracking, ensures compliance, and optimises costs, effectively enhancing efficiency, accuracy, and cost-effectiveness in managing legal notices.

9) What are the USPs of phygital notice?

Phygital Notice, our secure service, automates instant consumer dispatch, boosting team productivity with strict adherence to compliance and security. This approach reduces costs and enhances efficiency. Mobicule swiftly adapts to customer needs, using agile technology for AI/ML-driven legal communication management. Integrated with our mCollect platform, Phygital Notice offers real-time insights, streamlining borrower journeys and recovery processes on a unified platform. Supported by collaborations with India Speed Post and industry experts, this solution ensures secure debt recovery for banks and NBFCs. Overall, Phygital Notice delivers cost savings, improved efficiency, compliance, and a superior customer experience, essential across diverse industries.