> ## Content Index > Fetch the complete content index at: https://research.finbox.in/llms.txt > Use this file to discover other available public pages before exploring further. # EDI stack and Kerala NBFC - a FinBox case study - URL: https://research.finbox.in/case-studies/edi-stack-and-kerala-nbfc-a-finbox-case-study/ - Published: 2026-05-04T18:17:40.000Z - Updated: 2026-06-30T09:54:57.000Z - Description: How a 135-year-old Kerala-headquartered NBFC with 3,700+ branches built a digital MSME credit product on top of QR payment platforms — and grew disbursement value 3x. - Author: Mayank Jain - Tags: Equal Daily Installments, Case-study, EDI loans, #gated, #case study [ ](https://finbox.in/?ref=research.finbox.in) [Products](https://finbox.in/products?ref=research.finbox.in) [Solutions](https://finbox.in/solutions?ref=research.finbox.in) [Resources](https://finbox.in/resources?ref=research.finbox.in) [Company](https://finbox.in/company?ref=research.finbox.in) [Request Demo](https://finbox.in/demo?ref=research.finbox.in) Case Study # Scaling MSME Disbursements 300% with an Embedded Finance Stack How a 135-year-old Kerala-headquartered NBFC with 3,700+ branches built a digital MSME credit product on top of QR payment platforms — and grew disbursement value 3x. Heads of Digital Lending at NBFCs Heads of MSME Credit Chief Risk Officers Heads of Strategy at Legacy Lenders Scaling MSME Disbursements 300% with an Embedded Finance Stack Case Study ### Scaling MSME Disbursements 300% with an Embedded Finance Stack How a 135-year-old Kerala-headquartered NBFC with 3,700+ branches built a digital MSME credit product on top of QR payment platforms — and grew disbursement value 3x. Download free No paywall. Email required to receive the file. 300% growth in MSME disbursement value enabled by instant credit delivery embedded into the merchant's daily transaction flow. Built for credit teams. No paywall, no sales follow-up unless you ask. Download case study The challenge ## Why MSME credit is structurally underserved 01 ### No formal financial records A large share of MSMEs run on cash transactions with limited or no formal bookkeeping. Bureau checks and tax records often fail to capture the true financial health of these businesses — leaving lenders without reliable data to assess creditworthiness. 02 ### No acceptable collateral Many business owners do not have tangible assets that banks accept as collateral. This structural gap locks out a vast pool of otherwise creditworthy entrepreneurs who depend on unsecured working capital. 03 ### Small-ticket loans are uneconomical Manual, paper-heavy underwriting and in-person verification make small-ticket MSME loans uneconomical for lenders — translating to higher interest rates and longer turnaround times for borrowers. Get exclusive access — free, no paywall. Download free Outcomes ## What the Merchant EDI program delivered Insight 01 ### 85% approval rate, 52% growth in user acquisition Real-time transaction data and machine-learning underwriting lifted approval rates to 85%. Median user-acquisition growth across QR payment platforms: 52% — driven by high-intent merchant segments reached directly via the platforms. Insight 02 ### 1,50,000+ businesses funded More than 1.5 lakh businesses have been onboarded into the EDI program — driving the ambitions of micro and small enterprises across India. Insight 03 ### <6 weeks to market Time to market for a fully integrated STP onboarding journey was less than 6 weeks — cutting the usual lead time by more than half — while NPA dropped thanks to the daily-repayment model surfacing early borrower-behaviour signals. Download the case study — the full version, free. Get the case study How it was built ## What FinBox built for the NBFC India's MSME sector has 60 million-plus enterprises contributing 31% of GDP. But informal micro-enterprises operate outside traditional banking systems, with no formal records, limited collateral, and high processing costs that make small-ticket loans uneconomical. This case study walks through how a legacy Kerala NBFC — backed by 135 years of parent-group legacy and serving 10 million customers — partnered with FinBox to build a Merchant EDI lending product that meets MSMEs inside their daily payment flow on PhonePe, Paytm, and BharatPe. 01 **Instant STP onboarding**FinBox's Merchant EDI Stack enabled fully digital Straight-Through Processing onboarding journeys, eliminating user-acquisition friction. MSMEs apply, qualify, and receive disbursals directly inside the QR platforms they already use. 02 **Embedded daily repayment (EDI)**Equated Daily Instalments tailored to MSMEs' daily cash flows. Auto-debit collection workflows integrated with QR payment platforms enable smooth repayment and improved discipline — without the friction of monthly EMIs. 03 **Data-driven underwriting**Real-time transaction data from QR platforms feeds machine-learning models that automate credit scoring. Document-light underwriting let the NBFC deploy 31 unique credit policies across three partner platforms in one year. 04 **Partnership and program management**The FinBox Partnership Lending Stack handles drop-off management, compliance, reporting, and continuous performance optimisation — giving the NBFC oversight across every lending partnership through one control plane. 05 **Built on existing rails**The product slots into PhonePe, Paytm, and BharatPe payment flows so merchants can borrow and repay where they already transact — no separate app, no new behaviour to learn. ## Download the case study — free Email it to yourself in under 30 seconds. No paywall, no sales follow-up unless you ask. Get the case study Related resources ## Other reading from FinBox [ReportState of Digital Lending 2026A comprehensive guide to trends, insights, and best practices across India's eight digital credit categories — with FY19–FY25 actuals, FY26–FY30 outlook, and senior practitioner perspectives.Read →](https://research.finbox.in/state-of-digital-lending-2026/) [WhitepaperReimagining Housing Finance with Sentinel AISmarter co-applicant underwriting and guarantor verification — identity, compliance, credit, and income signals in a single decisioning engine for HFCs.Read →](https://research.finbox.in/re-imagining-housing-finance-with-sentinel/) [GuideThe Business Rules Engine: A Lending ImperativeWhy hard-coded policy is the silent tax on digital lending — and how to fix it without a rebuild.Read →](https://research.finbox.in/business-rules-engine-lending-imperative/) © FinBox 2026\. All rights reserved. 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