"We are seeing a network effect," the report notes. "Dealerships are now prioritizing Chola financing because the approval rate is 22% higher than public sector banks, and the turnaround is 3x faster."
Traditionally, NBFCs treat every loan application as a silo. Chola changed the game by creating a points-based system for borrowers. If a customer pays their EMI on time for six months, they accrue "Chola Miles," which translate into reduced processing fees or lower interest rates on the next loan. chola sales leap exclusive
While the specific "Exclusive" paper may be behind institutional paywalls, the core insights of Chola's recent "sales leap" revolve around their Phygital Transformation Strategy Key Themes of the "Sales Leap" Aggressive Asset Growth "We are seeing a network effect," the report notes