SMFG India Credit: Digital Business Now 25%, Rs 400 Cr Tech Boost

• * SMFG India Credit's digital business now accounts for 25% of its total operations, with its digital book growing 45% annually over the past two years to Rs 15,000 crore as of September.
• * The company has allocated Rs 400 crore for its FY25-26 technology budget to strengthen its digital core, focusing on AI-led underwriting, deeper risk analytics, and faster disbursal systems.
• * SMFG is enhancing digital lending with advanced machine-learning models for real-time credit decisioning and fraud detection, and integrating paperless onboarding solutions like Digital CKYC and e-sign.
• * Digital growth is further supported by partnerships with fintech platforms, expanding reach to diverse customer segments and aiming to reduce turnaround times and enhance scalability.

Why It Matters: This highlights digital's critical role in modern financial business growth.