SASANA TECHNOLOGIES PRIVATE LIMITED

In their own words

www.sasanatechnologies.com Market Problem - Current Auto and Two Wheeler markets have 74% of Loan penetration and Commercial vehicle markets have 90% Penetration. Vehicle loan finance industry delinquency is at a high level if early defaults are not tracked. Due to Covid'19 pandemic the situation has become nearly out of control. Current Collection Tracking Mechanism: Finance companies are tracking their employees and vendors and not defaulted assets. Finished vehicles will be seized by local vendors appointed or through legal. (If vehicle available) or will do follow-up process of collections. With our concept the defaulted vehicle assets of the finance Industry will be easily tracked along with latitude and longitude. The finance company (Banks) expenses will be saved adding the profit which will add the confidence of their investors and Public money will be saved from loss of NPA. This technology is a perfect tool for helping the Vehicle finance industry break the competition in the market which will build more market share for the finance companies using our product. This can be the Vehicle Finance Industry revolution. a) CAVA (Customer available Vehicle available) - Problem Statement - Once vehicle seized company/Employee handling the case is not comfortable to release vehicle by collecting EMI’s he will either ask to close the loan or will sale the vehicle. Risk 1. Customer not in position to pay foreclosure, but ready to pay EMI’s, May think to abscond the vehicle once release 2. Repo sale will eventually make a loss. Lot of cost involved for repo-sale. Example LRN, Exclusive Manpower to be engaged. Non RC availability and owner change may cause huge loss to the company. Solution- 1. To collect EMI’s and release vehicle since App will find it again anywhere in India. 2. Risk of loss is lowered by collecting EMI’s. Also legal bindings get over of financier wherever customers may create issues. b) CAVN (Customer available Vehicle not available) - Problem Statement - In this scenario vehicle is not traceable customer has comfort for negotiations postponed the payment promises. Risk Customer break the payment promises becomes habitual and subsequently lead to intention problems. Solution Once the vehicle is tracked by app. customers will stop breaking promises and pay, if vehicle found with third party/Moneylender this will create reverse pressure on customers to pay. c) CNVN (Customer Not available Vehicle Not available) - Problem Statement -Documents provided by customer may be misleading. Social media and CIBIL sites track only customers and not Assets. Risk 20% chances of tracking the customer on social media sites and CIBIL and 60% chances of this customer to be contacted. Solution Application will track any vehicle pan India in its server once number is seeded in server. Uniqueness of Concept - There is no competition in the market for this concept till now. In the vehicle finance industry, solution for tracking vehicles is still not developed. To track the vehicle financed, our application is to be downloaded by the employees in the finance field on their Android mobile with camera installed on the helmet/Shoulder or Bike. It will also allow recording the conversation with customer. The video can be later used as supporting evidence in court of justice if intention of customer - if legal process is with customer. If at all the vehicle finance Industry chooses to go with GPS to track vehicles rather than using our concept (Application) the restrictions. Additions with Application - 1) Video recording of 30 Mins. 2) Professional Chats messengers. Plans - Timeline and looking Ahead as follows - Year 2020 - PVT. Banks and NBFCs. Year 2022 - Tie up with online delivery industries and Small delivery vendors for vehicle tracking. Year 2023 - Approach to RBI for Nationalised bank financed vehicle tracking, with our technology success story. Year 2025 - Face reading technology for PL/BL customer - Military, Airport Security and Police.

Written by the company on its public Startup India profile. Not verified by us.