Muthoot Fincorp, the flagship financial services company of the Muthoot Pappachan Group, has launched the country’s first ‘24×7 Express Gold Loan service’. This is a technology-driven initiative, which allows customers to avail additional loans in ‘real-time’, anytime, anywhere with a simple SMS triggered loan request against their existing gold loan. The primary objective of the service is to provide financial support at the door step of every common man, the company said in a statement. The aim is to design and implement value-added services to make the customers’ lives better, it added. Muthoot Fincorp has more than 3500 branches across India with an average walk in of 75,000 customers per day. The company has a diverse mix of retail offerings catering to the various needs of its customers including gold loans, business loans, housing loans, auto loans, etc. The new service enables registered customers to avail top-up/ additional loans against their active gold loan packets, by just sending an SMS from their registered mobile number. This unique offering is completely technology-driven and automated, with round the clock availability. Thomas John Muthoot, CMD, Muthoot Pappachan Group said the service will not only make the customers’ lives simple but also help them fulfil their immediate financial needs at the ‘click of a button’ from their simple feature phone and not necessarily a smart phone.
