Sumunnati believes that a well-defined operational process and the adaptation to the right kind of technology mitigates risk to the maximum extent and improves the business performance. The process is designed as to achieve cost-effective collection of KYC documents, real-time / instantaneous transaction processing, real-time credit appraisal, reduce operational risks, improve operational efficiencies, reduce operational cost, back office integration and scalability.
Another interesting initiative undertaken by Samunnati to make an impactful difference in the Indian agricultural sector is the Samunnati Pay Card, which is a limited purpose transaction mechanism for placing a disbursement request. This card, which is a QR code based Virtual card, works for transactions/payments only on a list of registered merchants, thereby ensuring that it is used only for the purposes it is meant for. Enrolment for the Samunnati Pay Card is done instantaneously through e-KYC and e-Sign. When the loan is being sanctioned to the farmers, the loan limit is linked to the card, and FPOs, Cooperative Societies or Input Suppliers are registered as merchants. As and when farmers buy inputs from the merchants, they can show the card, authenticate the transaction using OTP and pay the FPO directly from their loan account.