Bengaluru | December 11, 2025: SMFG India Credit (SMICC), one of India’s leading NBFCs, today announced a significant acceleration of its digital transformation strategy, with nearly 25% of its overall business driven by its digital ecosystem, translating into an Asset Under Management (AUM) of ~Rs 15,000 crore as of September 2025. This reflects a robust 45% Compound Annual Growth Rate (CAGR) in SMICC’s digital business over the past 2 years, underscoring the company’s strategic focus on building a scalable, future-ready lending franchise .

Further strengthening its technological backbone, the company has set its FY25–26 technology budget at close to ₹400 crore. This strategic investment strengthens SMICC’s digital core, enabling AI-led underwriting, deeper analytics, real-time portfolio monitoring, customer behaviour–based collections, and significantly accelerated disbursals.

SMICC is leveraging advanced analytics to drive its digital lending with a next-gen tech stack that goes beyond standard digitisation. The company is investing heavily in advanced machine learning models for real-time credit decisioning, dynamic risk scoring, and protective fraud detection, leading to faster turnaround times ensuring consistent and smoother customer experience across all touchpoints.

SMICC has also integrated digital CKYC, Digilocker-based verification, e-sign, and e-stamp capabilities into its onboarding processes, ensuring paperless, compliant, and faster customer journeys. Cutting edge security and intelligence layers– including biometric face match, deep fake detection, and AI powered credit assessment further strengthen SMICC’s digital lending platform. These ensure a secure, scalable, and deeply customer-centric digital ecosystem, making the process faster, compliant and audit-ready.

SMICC’s digital business momentum is anchored by leveraging partnerships with multiple fintech players. These partnerships have helped in rapidly expanding its reach among small merchants, gig workers, self-employed borrowers, and other digitally active customer cohorts.

Commenting on the growth, Mr. Swaminathan Subramanian, Chief Operating Officer, SMFG India Credit, said, “Our digital business, now contributing nearly a quarter of our overall business, is a testament to the impact of our accelerated technology investments. This growth is further strengthened by the company’s use of robust scorecards and automated decisioning models, API based interactions across partner ecosystems, real-time customer communications, and advanced reconciliation capabilities. Together, these capabilities have significantly accelerated loan processing and disbursals, thereby increasing SMFG India Credit’s overall digital business contribution. By leveraging robust partner ecosystems and strengthening our digital core, our aim is to be more agile, secure, and efficient, while creating long-term enterprise value.

These capabilities are expected to meaningfully reduce turnaround times, enhance scalability, and support new product innovation across SMICC’s diversified retail, MSME, affordable housing and digital lending portfolio.

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Bengaluru, September 16, 2025 – SMFG India Credit (SMICC), one of India’s leading NBFCs, has entered into a strategic partnership with PhonePe to provide collateral-free credit to its merchants. This alliance will enable SMFG India Credit to offer Merchant Cash Advance (MCA) loans to registered merchants on the PhonePe platform, many of whom are based in Tier-2 and Tier-3 towns across the country.

This partnership will enable SMICC to further solidify its position as a market-leading lender in the merchant cash advance space, reinforcing its role as a key player in the digital lending ecosystem. For PhonePe, this collaboration deepens its commitment to its extensive merchant base by delivering instant, accessible credit solutions that fuel business expansion and support long-term growth.

Speaking on the partnership, Mr. Ajay Pareek, Chief Business Officer, SMFG India Credit, said, “We are excited to partner with PhonePe as it will allow us to make our financial solutions more accessible to India’s self-employed and small business community. This collaboration allows us to reach millions of merchants on the PhonePe platform, offering them convenient and seamless access to our merchant loans. By leveraging PhonePe’s extensive network and our tailored financial products, we aim to empower these businesses with the capital they need to grow, fostering greater financial inclusion and thus contributing to the overall economic progress of the country.”

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