Vernacular AI enables Seamless Payment Collections in Fintech

Amitesh kumar, COO & CFO, Midland Microfin Ltd.


“At Midland, we believe in extending enhanced support features not only to our valued members through ‘Sahayak BOT’, but also to potential candidates who aspire to join the Midland Microfin Ltd (MML) family. We’ve launched our innovative ‘Hire Bot,’ which provides a seamless platform for individuals interested in job opportunities at MML.”


Break free from language barriers and unlock limitless customer interactions. Explore the impact of vernacular AI voice bots in finance and insurance, breaking linguistic obstacles and engaging customers in their native languages.


Experience a revolutionary shift in customer experience, inspiring curiosity and igniting possibilities in microfinance payment collection. Discover the remarkable achievements of Midland Microfinance Ltd, a thriving industry leader pushing boundaries and redefining success.


Midland Microfin, a tech-savvy trailblazer in Microfinance, began in Punjab and expanded across 12 states. Recognizing the significance of advanced technology, Midland empowered its workforce, enhancing productivity and efficiency while gaining valuable performance insights for proactive decision-making.


In the pursuit of seamless operations and Information access, Midland unveiled a ground-breaking arsenal of innovative tools. Among them, the vernacular chatbots game-changers, elevating customer interactions to an unprecedented level by effortlessly bridging multilingual divides. In parallel, Midland engineered ingenious mobile applications that ushered in real-time monitoring of field staff activities, establishing a paradigm of efficiency in management and coordination. As a cherry on top, employees now enjoy seamless convenience by claiming travel expenses through a dedicated app, eliminating red tape.


Through its proactive approach to integrating technology into its processes, Midland continues to lead the way in revolutionizing the microfinance industry and delivering exceptional services to its customers.


Instant Support at Your Fingertips: Vernacular AI Voice Bots to the Rescue


With Vernacular AI Voice Bots and Chat Bots, Midland Microfin Ltd. provides instant multilingual support, addressing various customer queries such as account inquiries, balance checks, transaction history, and policy details. Customers receive real-time responses and personalized assistance, empowering them to access information and complete transactions seamlessly, without human intervention.


Introducing Customer Grievance and Recruitment Chat Bots


In today's fiercely competitive landscape, Midland understands the paramount importance of forging deeper connections with customers. To enhance customer engagement and satisfaction, they introduced the revolutionary "Customer Grievance Chatbot Sahayak." It communicates with customers in their native languages, fostering trust and freeing human agents to focus on complex matters like default customers.


Sahayak, a revolutionary chatbot, excels at handling multiple customer interactions, maximizing efficiency with swift responses and prompt issue resolution. Through analyzing interactions and extracting crucial information, Midland gains profound customer insights, empowering them to deliver bespoke services that cater to evolving needs. Sahayak propels Midland towards unrivalled customer understanding and exceptional service delivery.


The Hire Bot revolutionizes recruitment at MML, offering easy access and faster support for candidates. It streamlines the application process, providing swift communication, timely HR responses, and direct connection with the HR SPOC (Single Point of Contact). From the HR perspective, the Hire Bot reduces time-to-fill (TAT) for job vacancies, streamlining screening and filtering suitable candidates for increased productivity and efficiency.


Voice Bots


With Vernacular AI Voice Bots at the forefront, Midland Microfin revolutionizes customer experiences in financial services. These bots transcend language barriers, empowering diverse customer bases and delivering exceptional digital experiences. Through multilingual support, customers enjoy instant support, personalized recommendations, and seamless transactions. Midland Microfin's customer-centric approach is further enhanced by two key AI call features: capturing valuable feedback from default customers and raising awareness about insurance products.


Data Analytics of IVR, Voice Bot & ChatBot Data


Leveraging the power of data analytics, vernacular AI voice bots unlock valuable insights for businesses. This data-driven approach enables informed decision-making, product refinement, and targeted marketing campaigns. By generating a wealth of data, these bots reveal emerging trends, predict customer needs, and proactively address potential issues, propelling businesses towards growth and success.


Harmonizing Automation and Human Touch


In the realm of vernacular AI voice bots, human intervention and empathy are crucial for complex customer scenarios like missed payments. Voicebot Calls reach out to these customers, identifying those with Promise to Pay (PTP) or specific payment issues. Call Centre agents personally engage with these 300 clients, balancing automation and the human touch for an exceptional customer experience.


Streamlining Operations With Vernacular AI Voice Bots


Vernacular AI Voice Bots offer undeniable efficiency and cost savings. Automated payment reminders in local languages notify customers about due dates, balances, and payment options. Proactive engagement reduces late payments, optimizing revenue collections. The powerful combination of automation and human interaction ensures exceptional service and meaningful connections.


Secure Payment Assistance made easy


Midland envisions a future where seamless collections occur through Vernacular AI voice bots integrated with secure payment gateways. Customers can effortlessly make payments using voice commands, authorizing payments and completing transactions. This streamlined process, coupled with a secure environment, boosts successful payment collections. Vernacular AI voice bots also enable customized payment plans, reducing default rates, fostering customer loyalty, and strengthening relationships.


The Dawn of a New Era: Transforming Financial Services


Vernacular AI Voice-bots revolutionize payment collections, enhancing customer experiences, streamlining operations, and boosting revenue. Embracing these cutting-edge technologies propels fintech companies towards inclusivity, efficiency, and customer-centricity. These bots unlock untapped potential through advanced data analytics, hyper-personalization, and predictive intelligence in the future of finance.

Midland leverages advanced analytical tools like Power BI and Tableau to enhance data visibility, enabling a comprehensive 360-degree view of performance for all stakeholders. With a relentless focus on technological advancements, Midland delivers transparent solutions that empower customers and stakeholders, driving impactful outcomes.


“Enter a realm where technology empowers and insights guide, a financial landscape driven by data and customer-centric innovations, and anchored in agility & inclusivity as we journey towards a future of boundless possibilities.”


Mr. Amitesh Kumar


Mr. Amitesh Kumar is a highly accomplished professional who has played a pivotal role in spearheading business operations as the Chief Operating Officer (COO) and Chief Financial Officer (CFO) for Midland Microfin Ltd since its establishment in 2011. With an illustrious career spanning 14 years, he possesses extensive expertise in various domains including microfinance business development, sales and marketing, accounting and financial management, fundraising, management reporting, compliance, and risk management.

Mr. Amitesh Kumar holds a Master of Business Administration (MBA) degree in Agri-Business and Rural Management from the esteemed Indian Institute of Agri-Business Management. His profound knowledge and comprehensive understanding of the microfinance industry make him an invaluable asset to the organization. Commencing his professional journey at BFIL (formerly known as SKS Microfinance), he swiftly earned recognition as a strategic and resilient professional, consistently delivering exceptional results.

Due to his exceptional contributions and notable accomplishments, Mr. Amitesh Kumar received esteemed recognition as one of the Top 5 Chief Financial Officers in Finance-2019 by CEO Insights Magazine.