Mumbai’s dabbawala community will quickly develop into a logistics service supplier for banks, NBFCs and fintech start-ups.
The first initiatives are being pushed by start-up ZapFin Teknologies, which runs the DocBoyz app for fintech correspondents, and Dabbawala & Dabbawala, an organization owned by dabbawalas. The two have struck a five-year partnership. The discipline power of round 5,000 dabbawalas might be used for doc verification, discipline investigations and debt restoration. A dabbawala might earn as a lot as Rs 10,000-15,000 per individual per 30 days, relying on the hours labored. This could be further revenue for them.
Prashant Kumar, co-founder and CMO of ZapFin Teknologies, stated the dabbawalas have been hit laborious by the pandemic and this partnership would give them a possibility to earn some extra cash. ZapFin carries out handle verifications, provides information assortment companies, delivers and collects KYC paperwork. The firm has a staff of 10,000 companions and companies pan-India and works with 16 banks and NBFCs. These crucial works can’t be achieved on-line, and the the dabbawalas could be helpful, Kumar identified, including that every one companies, together with collections within the case of defaults, contain visiting clients.
Kumar’s firm will re-skill the staff to deal with monetary paperwork and processes as they develop into ‘Docboyz’. Services might be offered seamlessly throughout Mumbai, Thane and Navi Mumbai.
The dabbawala community works 24×7 and is effectively acquainted with each noock and nook in Mumbai. The settlement with the corporate was signed by the Dabbawala Trust president Ullas Santaram Muke together with president of Dabbawala Association Ramdas Karwane and their authorized advisor Ramesh More.
An earlier try to work with e-commerce corporations for last-mile deliveries had not labored out for dabbwala members however the Docboyz founder is assured this effort will go effectively.
Source: www.financialexpress.com”