Nayan Suresh Kambli,Chief Executive Officer, Money 2 Me

The Indian NBFC sector has been witnessing a significant upsurge over the years, wherein, this growth is fueled by rising demand for financial services, evolving consumer needs, and favorable regulations. And as the sector expands, portfolio management service providers have a broader audience, which allows for the introduction of diverse investment options tailored to this dynamic market.

Furthermore, government initiatives have expanded NBFCs' reach to the unbanked, while digital advancements have enhanced customer experience. With one of the world's largest young populations, India is set for increased productivity and prosperous economic growth. Having said so, despite its long history, the gold loan industry in India still faces challenges like opaque loan arrangements, hidden fees, and confusing processes.

This is where Money 2 Me has established itself as a frontrunner in the gold loan segment, distinguishing itself from competitors. The company offers a unique service ‘Ghar Baithe Gold Loan’, that brings gold loans directly to customers' doorsteps. This service is particularly beneficial for those who find it difficult or inconvenient to visit a branch in person. Adding to this, understanding the sentimental value of gold in India, it prioritizes the safety of pledged gold, wherein, it ensures 100 percent insurance coverage, conducts regular audits, and secures the gold in bank vaults. Furthermore, gold is evaluated by professional goldsmiths to provide customers with the best rate per gram.

Since the get-go, Money 2 Me has been committed to making gold loans accessible to all customers. Embracing a phygital model, the company seamlessly integrates physical and digital services, offering both doorstep gold loans and easy access through its mobile app. This innovative approach is transforming the traditional gold loan market, providing convenience whether customers prefer in-person service or the simplicity of accessing loans with a tap on their device.

Moreover, Money 2 Me has streamlined the loan processing system to ensure timely disbursements, recognizing the need for immediate access to funds. So, right from the initial loan payout to subsequent top-ups, every step is meticulously designed to be quick and hassle-free; thereby ensuring clients receive their funds promptly. The company has experienced significant growth in recent years and currently operates 22 branches across Maharashtra, including Pune, Kolhapur, and interior regions, supported by a team of 150 dedicated employees. Till date, it has disbursed over INR 750 crore in loans to more than 15,000 satisfied customers.

Furthermore, its efforts have not gone unnoticed, having received recognition in the gold loan market for its application. Beyond this, the company offers valuable opportunities to its clients, including Business Correspondent (BC) and Direct Selling Agent (DSA) models, which empower entrepreneurs to grow their businesses by partnering with Money 2 Me. Also, to support women entrepreneurs, the company provides a reduced interest rate, encouraging their ventures. Additionally, customers can take advantage of referral programs, earning incentives for bringing in new clients.

Aiding Clients Overcome Pressing Challenges

Money 2 Me operates with utmost transparency so as to ensure that customers are fully informed about all aspects of their loan, including fees, interest calculations, due dates, and repayment terms through in-person explanations. Furthermore, security is another major concern for gold loan borrowers as they worry about the safety of their valuable possessions. Here, Money 2 Me addresses this by employing robust tracking systems, insurance coverage, and secure vaults to protect pledged gold. Moreover, customers can be assured that their assets are safe and will be returned securely. Also to note, access to gold loan services can also be a challenge, particularly for those in rural or semi-urban areas. To overcome this, Money 2 Me is expanding its branch network and offering robust digital services, thereby allowing clients to apply for and manage loans online or through mobile apps. This makes obtaining loans easier and more convenient, hence eliminating the need for unnecessary travel. The app allows customers to manage their gold loans entirely online, offering features such as quick disbursement, loan management, and easy repayment.

A Competent Team

The growth of the Money 2 Me family is driven by its team's dedication, expertise, and adaptability to new technologies. Their commitment to client satisfaction and industry knowledge allows the firm to exceed expectations and strengthen our market position. The company’s support team initiates client relationships with a warm welcome call, introducing our services and guiding clients on maximizing their investment. Moreover, it maintains ongoing communication to address concerns, ensure satisfaction, and update clients on new opportunities. With a continually evolving tech infrastructure, the team adapts to the latest advancements, ensuring prompt resolution of issues and an improved client experience.

“In addition to our trained and qualified personnel, Money 2 Me has implemented several measures to further strengthen our relationship with clients. Our Ghar Baithe Gold Loan model offers unmatched convenience, covering everything from doorstep collection and documentation to doorstep delivery, including at the time of loan closure,” highlights Nayan Suresh Kambli, Chief Executive Officer. “Financial literacy is also a key focus for Money 2 Me. We prioritize educating our customers on loan terms, interest rates, repayment plans, and the broader financial implications of their decisions. This empowers clients to make informed choices, fostering trust and confidence rather than pressure”, Nayan adds.

Money 2 Me opened its first branch in 2016, and now has promising plans to open over 100 branches across India in the next three years going forward; aiming to disburse more than INR 5,000 crore in loans to a customer base exceeding 50,000. “We are committed to devising a customer-centric company that enhances lives and contributes positively to the community. Our goal is to be recognized as a top workplace, embodying entrepreneurship and financial inclusion, while revolutionizing the industry to instill confidence, trust, and client satisfaction”, concludes Nayan Suresh Kambli.