Getting to know IndiaGold 

Globally, banking is witnessing a wave of digitization. However, several banking products like gold loans and lockers require physical interactions, mandating the need for physical branches. 

IndiaGold has built a product & technology platform that enables regulated entities to launch or grow their asset-backed products across geographies; without investing in operations, technology, people, or taking any valuation, storage or transit risks. Their use of deep-tech is changing how asset-backed loans have been done traditionally. 

Some examples of their innovation include: 

• Lending against digital gold.  

• 100% paperless/digital loan onboarding process. 

• Computer vision to test gold purity as opposed to manual testing. 

• Auto-scheduling of feet-on-street.

• Customer self-onboarding, gold locker model to expand TAM & launch zero-touch gold. loans, Zero network business app & many more.

The key challenge IndiaGold was facing on the customer communication front 

According to an estimate, the organized gold loan is currently valued at Rs 4,149 billion and is expected to grow at a 3-year CAGR of 19.5% to reach Rs 7,557 billion by FY2024. To get to these numbers the Gold Loan Industry needs to enable an ecosystem where it can expand customer reach, improve communication capabilities, and innovate solutions to meet the demand. 

Above all, trust, credibility, and safety are the foundational values that can take the industry to further heights. 

On this front, the sales and support teams of IndiaGold were facing challenges to reach consumers over phone calls for: 

• New loan request 

• Gold loan inquiries 

• Confirming in-person visit of the loan manager 

Reason being:

• The company didn’t have a verified and branded caller identity resulting in a lack of trust among customers/prospects.

• People who inquired about Gold Loan or requested a new loan didn’t know who the caller was, as no brand name or logo appeared on their phone screens. 

• They were suspicious of the caller and weren’t confident in answering the calls. 

As a counter measure, people would mark the company’s sales and support numbers as spam, which wasn’t in the best interest of IndiaGold’s brand identity, experience, and value. 

IndiaGold was looking for a solution:

• That could make their phone calls appear trustworthy, relevant, and safe for consumers. 

• That could help them deliver an impactful brand experience to consumers.

• That can help them connect with consumers from tier 2 and tier 3 cities. 

They went ahead with Truecaller, as we ticked all the boxes and have a user base of more than 320 million. 

How Truecaller makes IndiaGold a more trusted, conscientious, and dependable brand

Using our Verified Business Caller ID solution, IndiaGold empowers its voice calls with: 

• Green Screen - instilling a sense of genuineness and positivity into consumers.  

• Brand Visibility - accurately displaying the company’s brand name and logo (non-editable by the user community).  

• Verified Business Badge - making the brand stand out from unscrupulous callers. 

• Call Reason - making the intent of the caller crystal clear.

• Business Category Tag - adding the industry context to the call.

This is what a consumer (who is looking for Gold Loan) now sees when someone from IndiaGold reaches out.

The key outcome 

They have improved their calling efficiency from 20% to 35%, for the following use cases/call reasons: 

• Gold Loan Service 

• Request for New Loan

Consumers now have a clear idea of who is calling them and why, resulting in timely conversations and quicker transactions. 

Going forward, IndiaGold will be exploring our new advanced capabilities like Video Caller ID and Call Me Back, to make their brand even more consumer-friendly.