B Impact Report

Logo for Vaya Finserv Private Limited

Vaya Finserv Private Limited

Working capital loans for small and micro enterprises, life and health insurance
Certified Since: July, 2018
Location: Hyderabad, Telangana, India
Sector: Service with Minor Environmental Footprint

Overall B Impact Scoreinfo_outline

120.6

The B Impact Scores are being compared against all businesses that have completed the B Impact Assessment

Vaya provides working capital loans for small and micro enterprises. Established by a team of seasoned microfinance professionals, Vaya uses the latest technology to deliver timely and relevant financial services to underserved rural geographies in India.

Vaya was the first company to use tablet banking in rural India. Since then, Vaya has added other state-of-the-art technology, from QR readers to iris-scan biometric authentication, and Data Analytics to Business Intelligence.
Vaya has a heightened focus on the seven principles of customer protection: fair and respectful treatment, transparency, designing suitable products, preventing over-indebtedness, privacy, and having a mechanism for complaint resolution.

Since Vaya customers are not familiar with conventional banking, Vaya trains them. Vaya uses simple and relatable methods to explain loan terms, interest rates, joint liability and other features. Such training not only imparts awareness but also serves to bolster trust and strengthen the credit culture.

Vaya's field staff invest significant time in developing good relationships with customers. There are extensive checks and balances in place to ensure fair and respectful treatment of customers. Field staff undergo thorough and ongoing training and evaluation.

Impact Area Scoresinfo_outline