| 13 RETURN TO CONTENT PAGE The Problem In the highly competitive landscape of retail finance, SCUF needed a solution that digitizes its gold loan services where approved loans may be disbursed to the borrower electronically. Post demonetization in November 2016 and with the government’s initiative to promote digital transactions and reduce cash transactions, digitization was a key priority for the company. For SCUF, the objective was not just to digitize but differentiate itself through exemplary customer experience by ensuring that the loan disbursement is instantaneous while the customer is in the branch premises at the time of loan disbursal. The Solution SCUF worked with Citi to develop a comprehensive solution that met its needs. Using Citi’s API interface to initiate payments and leverage the Open Banking APIs to provide real-time loan disbursements, the company managed to digitize the flows, as opposed to the former process that ended up with cash disbursements to the loan applicant. Shriram City Union Finance India Differentiate Itself Through Exemplary Customer Experience Shriram City Union Finance (SCUF) is part of the three decade-old Shriram Group. As a deposit-accepting, non-banking financial company, Shriram City is today India’s premier financial services company specializing in retail finance.