Muthoot Pappachan Group is all set to open 400 facility centres, a one-stop service point for its five million customers pan India. The Muthoot Facility Centres (MFC) is aimed at catering to the increasing demand and quick servicing of various loan and financial products of the group to its existing and new customers.

Thomas John Muthoot, Chairman, Muthoot Pappachan Group said that Muthoot Fincorp and other MPG companies have a strong branch network across the country. But still, a large section of customers are untapped and do not have access to short-term loans and other financial services during times of financial distress.

“We think this would be a very cost-effective way of reaching out to the needy and informal customers”, he said.

The facility centre has been set up to render services to the subsidiaries of the group such as Muthoot Fincorp, Muthoot Microfin, Muthoot Housing Finance Company and its standalone listed NBFC Muthoot Capital Services.

Offering phygital experience

The centres will be operating across various locations through Muthoot Infrastructure Private Ltd, which will be a subsidiary company of Muthoot Fincorp. The customers will get phygital (physical plus digital) experience and the priority of such centres is to provide services at the doorstep of the unbanked customers in rural and semi-urban areas, he said.

Moreover, the opening of such facility centres would be highly beneficial to customers, especially in pandemic times where there is a gap in reaching out to the needy. The company has also faced greater inconvenience in operating branches in lockdowns, he added.

MFC will be equipped with state-of-the-art technology, ensuring a seamless customer experience in fulfilling their financial needs.

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