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Started in 2017, InnoSewa helps companies make the promise of digital transformation a reality. We work collaboratively with you to create a deep understanding of the risks and opportunities presented by new emerging technologies and think creatively about how you can use these technologies to improve business performance.
Transforming Loan Verification with Smart Video Consent for a Leading FinTech
Introduction
In the ever-evolving financial ecosystem, transparency and compliance are no longer optional. A microfinance organization recently partnered with InnoSewa to overcome challenges in loan processing, specifically regarding customer consent and data security. The result? A streamlined, video-based verification system that ensures trust and accountability.
Understanding the Core Challenges
Loan applications—especially in the microfinance sector—require clear consent and proof that the borrower understands the terms. Traditionally, this was done via verbal consent or paperwork. However, this approach often lacked verifiable documentation, leading to:
- Disputes over terms
- Time-consuming manual verification
- Weak legal backing in case of defaults
The organization needed a system that could efficiently collect, store, and retrieve loan applicant consent without compromising the user experience.
InnoSewa’s Solution: Intelligent Video Consent Module
Our team engineered a custom web-based module that introduced an innovative approach to capturing user consent:
- On-Screen Display: Applicant details, loan amount, EMI terms, and agreement clauses are displayed above and below the video frame.
- Voice Confirmation: Applicants are instructed to read the displayed terms aloud while being recorded.
- Secure Storage: The video is saved on the server with metadata including applicant ID, loan ID, and timestamp.
- Review Dashboard: An internal admin panel allows secure, role-based access to video logs for compliance teams.
Use Case Walkthrough
Let’s say a borrower applies for a microloan of INR 25,000. At the final stage, they are presented with:
- A camera interface
- Their loan details prominently displayed
- A prompt to read the content aloud
Once the applicant records and confirms the information, the video is automatically stored and indexed. It can be pulled up during audits, disputes, or future references.
Technology Stack
- Frontend: JavaScript, WebRTC (for real-time video capture)
- Backend: Node.js/PHP for data handling
- Storage: Encrypted cloud storage with automatic indexing
- Dashboard: ReactJS admin panel with filters and video previews
Results & Benefits
- ✅ Improved documentation of loan approvals
- ✅ Legal and regulatory peace of mind
- ✅ Reduced manual verification time
- ✅ Greater transparency for both staff and customers
Conclusion
InnoSewa’s video consent system bridges the gap between manual loan processing and digital compliance. This implementation not only enhances operational efficiency but also safeguards both lenders and borrowers through a secure, verifiable process.
Take the Next Step: Free Consultation Offer
We understand that each business has unique needs. That’s why we’re offering a FREE consultation to discuss your specific challenges and explore tailored solutions that can drive your success. Whether you’re struggling with multiple vendors, an outdated website, or manual processes, our comprehensive suite of services is designed to help you thrive.
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Why Businesses Choose InnoSewa
- We Focus on Your Business Goals: Technology is just a tool — we deliver real results that impact your bottom line.
- We Collaborate With You: You’re part of the process every step of the way.
- Global Expertise, Local Understanding: Offices in India, USA, UK, Canada, and Dubai mean we understand your market.
- Innovation at Heart: We use the latest tech to keep you ahead of the competition.
- Your Long-Term Partner: We’re invested in your success, not just a quick fix.
Final Thoughts
In a rapidly changing digital landscape, having a reliable partner like InnoSewa can make all the difference. We’re dedicated to transforming your pain points into growth opportunities, so you can focus on what you do best—growing your business.
For more details about our services, please visit www.innosewa.com.
Let’s build a smarter, more efficient future together!
InnoSewa's Commitment to Your Success:
At InnoSewa, we understand that technology is a critical enabler of business success. By providing comprehensive IT services under one roof, we empower businesses to focus on their core competencies and achieve their strategic goals. Let us be your trusted IT partner, simplifying your operations and driving your business forward. Contact InnoSewa today to learn how we can transform your IT landscape.
📧 Email: info@innosewa.com
📞 Call: +91 7011307359
🌐 Website: www.innosewa.com