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Wednesday, July 17, 2024

India’s Largest Loan Distributor Andromeda Launches “OneAndro” Mobile App for Loan Borrowers and Agents

New Delhi, May 14, 2024: Andromeda, India’s leading loan distribution firm, proudly announces the launch of its mobile app, “OneAndro,” designed to streamline the loan borrowing and distribution process. The app, now available on Playstore, marks a significant leap forward in connecting thousands of agents across India with providers of financial services.

Established in 1991 by Mr. V Swaminathan, Andromeda has evolved from a Sales Associate for Citibank to India’s largest loan distributor. Specializing in home loans, loans against property, personal loans, and business loans, Andromeda operates in over 1000+ towns and cities with ambitious expansion plans on the horizon. In the fiscal year 2023-24, the company achieved a significant milestone by facilitating over Rs 75,000 crore in loan distribution across various categories.

Mr. Raoul Kapoor, co-CEO of Andromeda Sales and Distribution, commented on the launch, saying, “The introduction of OneAndro represents a pivotal moment for Andromeda and the financial services industry in India. This innovative platform not only propels us closer to achieving our goal of facilitating Rs 100,000 Crores of annual loan disbursals this fiscal year (FY2024-25) but also solidifies our position as the foremost last-mile provider of financial services in the country.”

The OneAndro mobile app offers a range of features aimed at enhancing the user experience. Agents and employees can seamlessly onboard themselves digitally, connecting them to a vast network of agents nationwide and expanding their business reach. 

The app also provides access to a comprehensive array of financial products, including various loan types, with plans for further integration of real estate, Loan Against Securities (LAS), and insurance. Additionally, the app boasts integrations with 27 lenders, facilitating quick data entry, approvals, and disbursals through digital APIs. 

A dedicated Training Centre empowers users to enhance their product knowledge and upsell additional financial products to customers. Equifax integration is already live, with CIBIL soon to follow, providing easy access to customer credit reports directly through the app. 

Detailed MIS reports on logins, calls, and other activities enable managers to offer insights and guidance to improve productivity, while robust data security measures ensure the confidentiality and security of user data, logins, and disbursals.

Raoul Kapoor further added, “With a legacy spanning over three decades, Andromeda remains committed to driving innovation and excellence in the financial services landscape. Through OneAndro and our continued dedication to leveraging technology, we aim to empower customers and partners alike, ensuring access to tailored financial solutions that meet their evolving needs.”

About Andromeda Loans:

Andromeda was founded in 1991 by Mr. V Swaminathan. Today, Andromeda is India’s largest loan distributor. With a rich legacy that spans over 30 years, covering 1000+ cities, with over 3000 employees and a strong distributor network of over 25,000 partners, Andromeda is poised to leapfrog into the future by leveraging the power of technology. By integrating our strong understanding of the marketplace with the latest trends and developments in digital technology, we help customers find the financial products best suited to their needs.

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