The Rs 90,000-crore Shriram Group offers a gamut of financial services across an omnichannel retail format currently, which will be consolidated on a single interface in the Super app, titled Shriram One. With the merger of NBFCs Shriram City Union and Shriram Transport Finance, the group has plans to apply thrust on digital services in view of the multiplier effect from the combined lending entity Shriram Finance.
“The Super app will be ready by the first quarter of next fiscal, to offer all our financial products. It is built totally in-house,” Shriram Capital’s Managing Director DV Ravi said. Group executives said the effect of synergy following the merger of NBFC entities Shriram City Union and Shriram Transport offers a unique opportunity for the group to make digital products for Indian customers.
Already, digital interfaces play a significant role in the group’s business divisions, with verticals such as two-wheeler loans having a strong digital presence, in terms of product discovery, inquiry and sales. The group is also expanding its digital teams as it builds out the super app, adding members to its digital data groups.
Chief Digital Officer Ajay Thomas John told ET the group has several teams across its digital organization working on the app for close to a year now. “Over the past six months, we have been running pilots, trying out the digital journeys and making them better. This is going to be a continuous process, involving frequent updates,” said John.
While lending will be a key function of the app, among other services, payments and rewards would also be features of the application, said John.
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