IFMR Trust is a private trust, set up with a vision to maximize the financial wellbeing of every individual and every enterprise in India by ensuring complete access to financial services .”.
IFMR Trust works towards this mission by investing in and supporting companies that can have a transformative impact on financial access in India. It believes that access to finance, supported by well-functioning markets, is critical for low-income households, and aims to achieve this mission using a 3-pronged strategy:
- High Quality Origination
- Orderly Risk Transmission
- Robust Risk Aggregation
IFMR Rural Finance is an ISO 9001:2008 certified technology-enabled and process company whose missions is “to be a catalyst to high quality originators who aspire to maximize financial well-being of their customers”. IRF aims to enable such high quality originators to provide convenient, flexible, reliable and continuous financial services to their customers. IRF’s state of the art technology solutions, financial product solutions and deep expertise in professional services such as training and incubation has equipped a host of organisations in the financial services delivery domain with such design and delivery capabilities. This includes IRF’s licensee company KGFS which offers a full range of financial services for low income households in remote rural areas.
IFMR Rural Finance is taking leaps ahead in this journey to achieve its mission keeping at its core:
- Cutting edge modular technology solutions
- Paperless, automated, efficient processes that allow in-branch and mobile financial services
- Enabling low cost operations and rapid scaling up
- Innovative tools for wealth management
- Sophisticated tools such as the Financial Well Being Report, Debt Servicing Capability, Prioritization Matrix to evaluate and advise customers and their household on managing their finances
- Ideation and Innovation of financial services
- Facilitating financial inclusion by partnering with originators by offering more than just a product
- Hands on expertise in rural finance, product design, rural customer financial planning and, training and development of wealth managers from within the community
- Comprehensive suite of customizable financial products
- Offers a comprehensive multi-financial product suite covering Credit, Insurance, Pension, Savings & Investments, Remittance and Payments that can be customized according to topography and customer segments.
Approach: Wealth Management
IRF’s founding principle of customer centricity stems from the larger conviction that our originator will be a responsible financial services provider and will strive towards improving the overall financial well-being of the households that they serve.
Product offering is done within the ambit of this ‘wealth management approach’ that encompasses of:
- A comprehensive analysis of the current status of the household’s financial position and its goals to arrive at a customised financial plan
- Transparency in transactions and complete information exchange ensuring minimal information asymmetry
- The Originator’s Wealth Managers are trained to treat all their customers without any discrimination and with utmost respect in all their interactions
- Consistency in the quality of services provided irrespective of the origination partner that circumvents the threat of reputation risk with respect to customer servicing
Category: Payday loans