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AllCloud: Industry Specific Digital Loan Management

Ashish Khadloya, CTO

AllCloud is a fast growing Cloud Technology provider in delivering an extensive range of SaaS solutions for the Financial Services Industry. Founded in 2015, AllCloud is a privately funded organization with head quarters in Hyderabad and a Team size of 80+. The company has revolutionized the lending domain with their product AutoCloud. AutoCloud is an Omnichannel Lending Software/Loan management software for Financial Institutions. We had a rendezvous with the key officials of AllCloud and got to know AutoCloud better.

In conversation with Ankith Khadloya and Rahul Jain, Co-Founders, AllCloud

Tell us about AllCloud’s unique positioning in the financial technology domain.We are one of the premiere SaaS application providers in lending domain. It is built on cloud with SaaS in mind. This is a comprehensive solution for lending; right from customer onboarding to loan life cycle. We hand hold customers up till the very end as a service provider. Unlike similar financial offerings, wherein the product is existing and solutions are built around it, AllCloud has introduced an additional layer that allows AllCloud to understand the domain up close.

How this unique positioning has allowed you to develop AutoCloud. Also, please brief us about is this platform?
AutoCloud is an end-to-end Loan management software handcrafted for Non Banking Financial Companies. Our Solution is an agile and customer centric platform capable of servicing

Autocloud is an agile and customer-centric platform capable of servicing the entire loan cycle

the entire loan cycle. More than 400 Lending Companies around India & Africa have standardized on the AutoCloud platform to streamline their Loan originations, Collections and reporting digitally. We are more of a technology enabler for the fintechs and not the other way round. Be it a legacy application or server range application, our API can help bridge the communication gap. When we built AutoCloud Enterprise, we also built a parallel mobile solution for this. Therefore, it’s a native solution for Enterprise that works on Android and iOS. It’s a single extension of our comprehensive solution. More so, we have 75 percent configurability that is remarkable compared to several other players in the market. We help banks to streamline their loan lifecycle in order to enable them disburse loans. AutoCloud is already integrated with a lot many wallets and many internet banking channels. We also have an automated match system, where in we bring together the lender and the borrower. This module allows borrowers to pick their favorite lender and at the same time enables borrowers to repay through the convenience of digital payment wallets.

Can you quote a success story that has been an important turning point for AllCloud?
We have done a successful implementation in 45 days for a leading bank in India for a product: Loan against insurance. This company started this as new product in their business and our technology helped them release a product in less than 2 months. Our system is helping them issue loan against insurance paperless and in a very short time, make better workflows to automate processes that are time taking, that is decreasing their operational costs and increase in work

efficiency. As the project was outsourced to us, the team had their complete focus business modeling and we are taking the complete headache of tech on us. Now they handle more than 400 branches & more than 4000 users on our system.

Collection has never been an easy task for lenders. How has AllCloud studied this aspect and maintained the trust of your clients?
For a two wheeler financer, our product proved to be a savior with respect to collection of the loan repayments. Due to its integration with wallets, the collection has become seamless and easier. With a majority of salaried customers applying for loan, repayment has become easier as they prefer using wallets more often. Auto Cloud is built with the psyche of a lender. Since the day 1 that we implemented this platform, we have worked upon the feedback of our clients. We have kept improving our platform to meet every requirement of a lender.

With the lending domain becoming ubiquitous, thinking out of the box is a necessity for financial technology innovators. What is your blueprint to be prepared for the future?
What we next intend to do is providing our customers with better analytical tools. This is because the chunk of transaction data that we currently have is immense and it requires a bespoke analytics tool that can understand clients’ data better. We will work to make sure that our clients do not require reaching out to other providers for a analytics tool, instead they would find all that in AutoCloud. More over, we are looking towards bringing in the capabilities of AI and ML to further automate the process and improve the efficiency and operability of the entire application.

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