About HomeCredit

Home Credit India is a part of Home Credit Group, an international consumer finance provider with operations in nine countries. Home Credit entered the Indian market in 2012 with the aim to empower customers with little or no credit history by offering lending solutions that are transparent and accessible to all.

In 2018, Home Credit India’s digital channel accounted for 2 per cent which has now grown to 35 percent of its overall business.


Before partnering with HyperVerge, HomeCredit was performing all checks manually for onboarding their merchant partners or dealers. It required a lot of time and human effort. All in all, it wasn’t a pleasant experience for the end-user.

Errors and repetition of work

In HomeCredit’s manual verification process, there were significant errors and the same work was being done multiple times.

We spoke to Vishal Sharma, Senior Vice President of Operations at Home Credit India, who said that their initial process didn’t even have automated OCR reading of documents. “So whatever was happening was a manual fill. The application would come to the back office for a manual check. If they said it’s not good to go then the agent would have to log in again. Even if there was a minor mismatch, it meant additional work. At times, the same work was being done multiple times,” he said.

HomeCredit needed a partner who automate this process. The whole onboarding process for merchants had to be made faster and simpler. In addition, compliance requirements had to be fulfilled.‍

Peak business volumes during Diwali 

Every year, HomeCredit witnesses a 3-4x increase in business volumes during the festive season starting from Navratri to Diwali. Zero error rate during this period is critical for HomeCredit. HomeCredit wanted a technology partner that could deliver speed and accuracy at a very high business volumes so that peak load could be satisfied and no business would be lost.


Ease of integration, response time and the pricing are the main factors we chose HyperVerge as our first ever OCR partner.

Vishal Sharma
Senior Vice President – Operations


HomeCredit partnered with HyperVerge solutions for OCR and shifted from manual verification to HyperVerge assisted automated verification. At the point of sale, the merchant/agent clicks photos of the documents – HyperVerge OCR picks up the information and feeds it into HomeCredit workflow which verifies the data in an agent-assisted process. The images and information is saved in HomeCredit’s CRM.


Even at the dealer’s end and in today’s scenario where our dealer is processing the application, these two things – uptime and reduction in error rates were the game-changers for us.

Vishal Sharma
Senior Vice President – Operations


HyperVerge flags poor quality of image captured allowing for recapture. After the image is saved, HyperVerge AI reads the data automatically thus reducing error rates in customer data drastically. This combined with a 100% uptime has improved throughput tremendously for HomeCredit.

The main metrics tracked are: (a) Error rates – reduced by 50% and more and (b) Application processing time – reduced by at least a third of the time it used to take earlier. The time to onboard and verify a merchant/dealer has also dropped by 33%

HyperVerge solutions – A game-changer for HomeCredit

When we asked HomeCredit about their experience of working with HyperVerge, the two terms which were often used were “life-saver” and “game-changer.”

Why was HyperVerge their preferred choice as their OCR partner? “One was the ease with which the whole integration happened,” said Vishal Sharma. He went on add that HyperVerge performed very well in the POC results on accuracy and response time. Additionally, the price offered was perfect for HomeCredit. 

Sharma quickly added that that response time was the most critical factor. “During my peak time, I am running about three times more applications as compared to this point in time. If during my peak time, my response time goes up even by two seconds, my application will crash because of the multiple API calls that keep on happening,” said Vishal Sharma. HomeCredit peak-tested HyperVerge solutions at 200 applications per minute. 


HomeCredit is automating the whole KYC journey. For this, HomeCredit is using HyperVerge’s KYC stack. In this process, agent intervention will be needed only for 20% of cases since rest will be automatically verified.


HomeCredit uses HyperVerge OCR to reduce error rate to 5%


Lower error rates

1/3 lower

application processing time

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