Equitas Bank Doubles App Downloads and Grows Revenue by 14% with Netcore Cloud

About Equitas Small Finance Bank

Equitas Small Finance Bank, headquartered in Chennai, India, commenced operations in 2016. Originating as Equitas Microfinance Ltd, it became a scheduled bank by February 2017. As of March 31, 2021, the bank reported revenues of ₹3,157 crore and a net profit of ₹384 crore. Equitas offers a diverse range of financial services, including asset products like microfinance, commercial vehicle, affordable housing, and personal loans, and liability products such as current accounts, savings accounts, and fixed deposits. The bank emphasizes digital banking and has integrated technology-driven solutions. Equitas also engages in philanthropic activities through the Equitas Development Initiatives Trust (EDIT), focusing on education and rehabilitation programs. The bank aimed to drive growth in its lending business, supported by its dedicated Selfe Loan App, which enables users to apply for loans through a seamless digital process.

Company: Equitas Small Finance Bank

Industry: Banking & Financial Services

Location: India

Category: Digital Lending & Customer Engagement

Solutions Used: Netcore Cloud’s Customer Engagement Platform (WhatsApp + PXNudges)

Objectives

Expand app downloads and adoption of the Selfe Loan App
Guide users through a seamless loan journey
Re-engage drop-offs with timely, contextual nudges
Drive feature usage and improve loan application completion rates
Boost revenue from the lending vertical

Challenges

Inability to track real-time engagement metrics on WhatsApp
Limited personalization in user communication
High drop-offs during the digital loan application process
Lack of contextual nudges to guide user journey within the app

Netcore Cloud’s Strategy

WhatsApp Engagement: Personalized, multilingual messages with deep links guiding users directly into relevant app screens
In-App PXNudges: Real-time, behavior-based nudges to assist and retain users through the loan application process
Segmented Journeys: Separate flows for Existing-to-Bank (ETB) and New-to-Bank (NTB) users
Re-Engagement Campaigns: Automated reminders for drop-offs, dynamic in-app messaging for returning users
Real-Time Optimization: A/B testing, performance tracking, and journey refinements to improve conversions and adoption

Equitas Bank Doubles App Downloads and Grows Revenue by 14% with Netcore Cloud’s Multi-Channel Engagement

Objectives

Challenges

Netcore Cloud’s Strategy