Jaipur-headquartered AU Small Finance Bank wants to ramp up its business via crowd-sourcing — involving not only employees but also customers and non-customers — with the help of a mobile-based app called ‘Kamao’ (earn).

The one-year-old bank is planning to encourage stakeholders to log leads on prospective customers, who want to open deposit accounts or get loans, on the app and win ‘rewards’. This app is currently undergoing beta (field) testing.

Sanjay Agarwal, MD & CEO, AU SFB, said: “We have developed an app called ‘Kamao’. If you (employee, customer or non-customer) give us leads (prospective customer’s name, contact details, and banking requirements) for our business, we will reward you. We will also inform you (via the app) about the status of the lead you gave.”

Rewards programme

The sales team will work on the lead, and if it translates into business, the person who referred the prospective customer, will get a reward.

“In the case of employees, the bonus is linked to generation of (business) leads. For the outside world, we will try to figure out how to reward,” explained Agarwal. He added that the app will be rolled out in six months.

Agarwal said in the last one year, his bank has acquired more than 5 lakh customers, mopped up around ₹7,000 crore in deposits (of which about 31 per cent deposits are low-cost current account, savings account) and grew assets by 60 per cent year-on-year to about ₹16,000 crore (with about 85 per cent of loans classified as retail loans).

The bank wants to fund 80 per cent of its assets with retail liabilities.

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