{"id":35504,"date":"2025-09-17T15:45:52","date_gmt":"2025-09-17T10:15:52","guid":{"rendered":"https:\/\/vymo.com\/?p=35504"},"modified":"2025-10-13T16:40:21","modified_gmt":"2025-10-13T11:10:21","slug":"banking-on-slis-whats-next","status":"publish","type":"post","link":"https:\/\/vymo.com\/blog\/banking-on-slis-whats-next\/","title":{"rendered":"Banking on SLIs: What\u2019s Next?"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p>[vc_row css_animation=&#8221;&#8221; row_type=&#8221;row&#8221; use_row_as_full_screen_section=&#8221;no&#8221; type=&#8221;full_width&#8221; angled_section=&#8221;no&#8221; text_align=&#8221;left&#8221; background_image_as_pattern=&#8221;without_pattern&#8221;][vc_column][vc_column_text]<span style=\"font-weight: 400;\">The demand for micro-credit in rural India is rising. But, are MFIs doing enough to utilize this great scope and improve their credit culture from the current <\/span><a href=\"https:\/\/www.livemint.com\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">10%<\/span><\/a><span style=\"font-weight: 400;\">?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As the Executive Vice-President of a leading private bank defines, \u201cMicrofinance business is not only about making money but also bringing smiles to people at the bottom of the pyramid.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Aligning with this mindset, banks and MFIs offer collateral-free loans to the underbanked rural population for their sustainable livelihood. They aim to expand financial inclusion and nurture especially women customers due to their habit of saving, wise spending, and timely repayment.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Unfortunately, such people-centric initiatives also encounter challenges that the microfinance sector struggles to overcome with conventional methods.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Poor education levels of rural clients impede sales reps from conveying their valuable services and enhancing the gross loan portfolio. So, the MFI outreach remains as low as <\/span><span style=\"font-weight: 400;\">8%<\/span><span style=\"font-weight: 400;\">, and employee turnover increases to <\/span><a href=\"https:\/\/economictimes.indiatimes.com\/jobs\/lenders-battle-talent-attrition-as-new-age-tech-cos-line-up-with-attractive-offers\/articleshow\/93195937.cms?from=mdr\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">60%<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Again, <\/span><a href=\"https:\/\/core.ac.uk\/download\/pdf\/234646976.pdf\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">70%<\/span><\/a><span style=\"font-weight: 400;\"> of the marginalized population cannot manage their debts and suffer from late p<\/span><span style=\"font-weight: 400;\">ayments, loan defaults, and bad debts. This reduces client retention to only <\/span><a href=\"https:\/\/core.ac.uk\/download\/pdf\/234646976.pdf\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">28%<\/span><\/a><span style=\"font-weight: 400;\"> and affects the institution\u2019s working capital, profit, and growth.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Since most SLI sales teams work out of Tier II and Tier III cities, enabling them with real-time data is a challenge. Their managers find it difficult to monitor their activities and understand their challenges, and hence, cannot support them suitably.\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">How empowering would it be if a manager could nudge the salesperson who is on his way to a meeting, saying, &#8220;Why don&#8217;t you also meet Y?&#8221; or &#8220;Remember, X&#8217;s payment is due, and you are 1 km away&#8221;. This would be a game-changer!<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Well, such revolutionary approaches are now just a click away!<\/span><\/p>\n<h2><b>How can digitization help sales teams manage SLI at their fingertips?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Integrated mobile-first sales engagement platforms help microfinance institutions transform their manual sales processes into digital ones. They allow sales executives to manage large remote workforces across rural India and maximize their loan remittances with optimum collection turnaround times.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Thus, adopting such new-age sales engagement and lead management interfaces can make your life easier with the following benefits:<\/span><\/p>\n<h3><b>1. End-to-end credit remittance and repayments<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">A <\/span><a href=\"https:\/\/vymo.com\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">sales engagement platform for banks<\/span><\/a><span style=\"font-weight: 400;\"> helps sales managers identify their target audience, set daily and monthly goals for sales reps, and increase conversion rates. They automatically capture the frequency of visits and time spent on each customer, track all workflow stages, correlate activities with outcomes, and identify and analyze real-time gaps.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These features help field agents optimize their routes, meet more clients in a single visit, minimize time spent in manually-documenting data, and utilize data-driven prescriptive nudges to drive healthy customer engagement. Sales reps can onboard and engage more clients, communicate real-time contextual insights to their managers, and enhance sales productivity and collection efficiency to meet their goals.<\/span><\/p>\n<h4><b>2. Increased visibility<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Sales executives need real-time visibility to all key metrics for their teams, aggregates, and individuals. A <\/span><a href=\"https:\/\/vymo.com\/banking-sales-solutions\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">banking sales solution<\/span><\/a><span style=\"font-weight: 400;\"> helps them track rep performances, assign the best rep available for maximum lead conversion, guide the best rep to nurture the nearest prospect in the territory, and fine-tune enterprise sales with data analytics and rep behavior.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Managers can access reports on key industry scenarios, observe the core capabilities of their sales teams, improve teams\u2019 daily activities by 4X through real-time interventions, and empower sales conversations with relevant knowledge kits and in-the-moment assistance.<\/span><\/p>\n<h4><b>3. Training lady credit officers and field agents<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Catering to women customers requires female field agents proficient in identifying customer pain points and conveying valuable services in their local languages. An effective <\/span><a href=\"https:\/\/vymo.com\/banking-sales-solutions\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">sales acceleration platform<\/span><\/a><span style=\"font-weight: 400;\"> is their on-the-go guide to convince more customers and convert more leads.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">These platforms provide ongoing coaching to identify potential risks or opportunities, forecast the probability of closures, and keep pace with customers\u2019 evolving needs. Lady credit officers can engage in group sessions, learn strategy-making from the best reps, serve clients with dynamicity, and close more deals with a 75% reduction in the TAT.<\/span><\/p>\n<h4><b>4. Intelligent lead management systems<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">A <\/span><a href=\"https:\/\/vymo.com\/banking-sales-solutions\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">banking CRM software<\/span><\/a><span style=\"font-weight: 400;\"> with integrated lead management facilities ensures best-fit mapping, seamless customer onboarding, team behavior mining, and a 54% decline in lead dropping. It helps managers nudge customers for timely repayments, aggregate lead information for verifying credibility, inform the lead generators about deal statuses, and quicken turnaround times by lending money to the right customers. Intelligent lead management allows field agents to increase sales efficiency and managers to obtain a unified view of customer journeys.<\/span><\/p>\n<h4><b>5. Customer engagement optimization<\/b><\/h4>\n<p><a href=\"https:\/\/vymo.com\/insurance-sales-solutions\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Insurance CRM software<\/span><\/a><span style=\"font-weight: 400;\"> solutions organize leads obtained from business correspondents, NGOs, enterprises, and lead generators. They ensure optimum financial education to the clients, assign hot leads to the employed workforce, reduce loan disbursement times by 64%, and help achieve <\/span><a href=\"https:\/\/www.thehindubusinessline.com\/money-and-banking\/microfinance-industry-not-likely-to-witness-pre-pandemic-level-of-collection-efficiency\/article65567122.ece\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">99%<\/span><\/a><span style=\"font-weight: 400;\"> repayments on collection due dates.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Additionally, <\/span><a href=\"https:\/\/vymo.com\/banking-sales-solutions\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">banking CRM software<\/span><\/a><span style=\"font-weight: 400;\"> allows sales executives to hire the right talent, build capacities, and track planned versus completed activities. Real-time KPI monitoring and pre-emptive intervention in case of anomalies help sales reps improve outcomes and offer superior customer services.<\/span><\/p>\n<h2><b>Final Conclusion<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Innovative technologies assist microfinance institutions in expanding their client coverage, managing stakeholders based on business potentials, and enhancing customer sourcing two-fold.<\/span><\/p>\n<p><b><i>Leading BFSI players in India leverage high-performing sales engagement platforms to overcome their SLI roadblocks and increase total closed cases by 35X, input effort productivity by 2.5X, and the total amount collected by 42X within a few months.<\/i><\/b><\/p>\n<p><span style=\"font-weight: 400;\">Such one-pane interfaces are \u201cpersonal sales assistants\u201d to managers and sales reps that bring all parties on the same page, measure productivity, integrate third-party apps, manage debts, and make the initiative profitable.<\/span><\/p>\n<article class=\"text-token-text-primary w-full focus:outline-none [--shadow-height:45px] has-data-writing-block:pointer-events-none has-data-writing-block:-mt-(--shadow-height) has-data-writing-block:pt-(--shadow-height) [&amp;:has([data-writing-block])&gt;*]:pointer-events-auto [content-visibility:auto] supports-[content-visibility:auto]:[contain-intrinsic-size:auto_100lvh] scroll-mt-[calc(var(--header-height)+min(200px,max(70px,20svh)))]\" dir=\"auto\" tabindex=\"-1\" data-turn-id=\"d6b9db39-ae6c-467f-8afb-abbca6999792\" data-testid=\"conversation-turn-32\" data-scroll-anchor=\"true\" data-turn=\"assistant\">\n<div class=\"text-base my-auto mx-auto pb-10 [--thread-content-margin:--spacing(4)] thread-sm:[--thread-content-margin:--spacing(6)] thread-lg:[--thread-content-margin:--spacing(16)] px-(--thread-content-margin)\">\n<div class=\"[--thread-content-max-width:40rem] thread-lg:[--thread-content-max-width:48rem] mx-auto max-w-(--thread-content-max-width) flex-1 group\/turn-messages focus-visible:outline-hidden relative flex w-full min-w-0 flex-col agent-turn\" tabindex=\"-1\">\n<div class=\"flex max-w-full flex-col grow\">\n<div class=\"min-h-8 text-message relative flex w-full flex-col items-end gap-2 text-start break-words whitespace-normal [.text-message+&amp;]:mt-1\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"00895b31-6f78-48d6-8d26-00104cd904cb\" data-message-model-slug=\"gpt-5\">\n<div class=\"flex w-full flex-col gap-1 empty:hidden first:pt-[1px]\">\n<div class=\"markdown prose dark:prose-invert w-full break-words light markdown-new-styling\">\n<p data-start=\"327\" data-end=\"513\" data-is-last-node=\"\" data-is-only-node=\"\"><a href=\"https:\/\/vymo.com\/request-a-demo\/\" target=\"_blank\" rel=\"noopener\">Request a personalized Vymo<\/a> demo and experience smarter, mobile-first sales execution.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<p>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The demand for micro-credit in rural India is rising. But, are MFIs doing enough to utilize this great scope and improve their credit culture from the current 10%?<\/p>\n","protected":false},"author":1,"featured_media":35832,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[133],"tags":[45],"class_list":["post-35504","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-banking"],"_links":{"self":[{"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/posts\/35504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/comments?post=35504"}],"version-history":[{"count":5,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/posts\/35504\/revisions"}],"predecessor-version":[{"id":37413,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/posts\/35504\/revisions\/37413"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/media\/35832"}],"wp:attachment":[{"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/media?parent=35504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/categories?post=35504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vymo.com\/blog\/wp-json\/wp\/v2\/tags?post=35504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}