ART Housing Finance empowers underserved segments with eSign-backed housing loans
Bangalore, India – ART Housing Finance Ltd (ART Housing Finance), a leading Housing Finance Company (HFC) providing long-term housing loans to middle and lower-income groups, has announced a strategic partnership with SignDesk, a global provider of document automation solutions. This collaboration aims to revolutionize housing finance for underserved segments by digitizing loan kits and simplifying the application process through integrated eSignatures and eStamping.
Bridging the credit gap in non-urban India- Credit penetration in non-urban areas remains a critical challenge in India, with informal credit dominating the lending landscape. This lack of formal credit access leaves rural and underserved communities vulnerable to economic cycles and exploitative lending practices. However, the surging demand for housing presents a golden opportunity to bridge this gap and empower these segments.
ART Housing Finance stands committed to providing flexible home loan solutions to middle and low-income groups in peri-urban and rural India. Leveraging digital innovation and a robust on-ground presence, the company builds sustainable credit pipelines, fostering affordable housing dreams.
Technology as the game-changer Traditionally, lenders serving non-urban areas grapple with high operational costs and delays due to complex underwriting needs and challenges in establishing customer connections. Technology adoption is now emerging as a powerful equalizer, enabling housing finance companies to overcome these hurdles. By partnering with SignDesk, ART Housing Finance has achieved complete loan kit digitization. Aadhaar-registered borrowers can now seamlessly eSign loan agreements online, with advanced encryption and traceability ensuring utmost security. Biometric signatures further streamline the process for non-Aadhaar users.
The company also utilizes eStamping to comply with state regulations, scale operations, and boost efficiency. This not only eliminates forgery risks and guarantees document authenticity but also facilitates remote workflows, a critical advantage in the post-pandemic era.
The combined impact of these digital solutions has been remarkable. ART Housing Finance has witnessed a 20% reduction in operating costs and a 1.5x improvement in loan disbursement efficiency. This translates to faster loan approvals and a more positive experience for borrowers.
Dominic Vijay Kumar, Senior VP & CTO, ART Housing Finance (India) Ltd: “Integrating e-sign and e-stamp technology into our loan workflows has been transformative. We’ve empowered our customers with a convenient and speedy loan sanction process. They can now eSign documents and procure e-stamp papers digitally, anytime, anywhere. This customer-centric approach is at the heart of everything we do.”
Krupesh Bhat, Founder, SignDesk: “Making housing finance accessible to vulnerable populations like rural residents is crucial for inclusive economic growth. Banks and NBFCs in these areas face unique challenges and need digitization to remain competitive and offer exceptional service. E-sign and e-stamp solutions directly address these concerns, mitigating structural risks and building trust. By digitizing loan kits, financial institutions can empower borrowers and foster a more robust financial ecosystem.”
The road ahead: Technology paves the way for financial inclusion- Housing finance plays a pivotal role in integrating traditionally underserved and unserved populations into the formal economy. De-risking rural credit, ensuring operational efficiency, and prioritizing data security remain key challenges. Technology will continue to be the driving force in overcoming these hurdles and paving the way for a more inclusive financial landscape.
As India’s Fintech sector flourishes, banks and NBFCs must embrace document automation solutions like eSignatures, eStamping, and digital KYC verification. This will not only expedite loan processes and reduce costs for lenders but, more importantly, build trust and empower borrowers across the nation. Leveraging cutting-edge compliance technology is not just a trend but an imperative for driving India’s formal economy forward.