From providing services in forex remittance and domestic money transfer, Unimoni India (erstwhile UAE Exchange) has expanded its product portfolio to include gold loans, small enterprise credits, third-party insurance, affordable housing and consumer durable loans, thus making it more than an NBFC (non-banking finance company) but less than a bank, said Amit Saxena, Managing Director and Chief Executive Officer.

In a telephonic conversation with BusinessLine, Saxena said: “While the government and society pay close attention to financial inclusion, entrepreneurship and innovation, our area of focus has beenthe under-penetrated retail and MSME segment. At Unimoni, we call this segment ‘India2’, considering it comprises around 48 to 50 per cent of the total population.”

“We are aiming to empower every individual. Rising penetration of internet and mobile, and the potential to reach out to every nook and corner of the country, has transformed the way we conduct business. It has simplified the complex lending process and made it tech-driven.

“Adoption of digital technology has become crucial to stay competitive, meet customer requirement and expectations,” he said, while admitting that every business cross-sells to stay ahead of the curve.

“We are intent on creating a universal financial-solutions platform through multiple touch points spanning the retail sector (comprising our branch network and agents) and through digital mediums (such as the mobile app and web).

The company has established a network presence of 350 branches across 300 locations and 12000 agents