Andromeda Launches ‘OneAndro’ Mobile App for Loan Borrowers and Agents

Andromeda, the premier loan distribution company in India, is delighted to introduce its new mobile app, “OneAndro,” aimed at simplifying the loan borrowing and distribution procedures. This app, accessible on the Play Store, represents a major advancement in linking numerous agents nationwide with financial service providers.

Established in 1991 by V Swaminathan, Andromeda has transformed from being a Sales Associate for Citibank to becoming India’s leading loan distributor. Specializing in home loans, loans against property, personal loans, and business loans, Andromeda operates in over 1000+ towns and cities with ambitious expansion plans ahead. In the fiscal year 2023-24, the company reached a significant milestone by facilitating over Rs 75,000 crore in loan distribution across various categories.

Raoul Kapoor, co-CEO of Andromeda Sales and Distribution, commented on the launch, stating, “The introduction of OneAndro marks a pivotal moment for Andromeda and the financial services sector in India. This innovative platform not only brings us closer to achieving our goal of facilitating Rs 100,000 Crores of annual loan disbursals this fiscal year (FY2024-25) but also cements our position as the leading last-mile provider of financial services in the country.”

The OneAndro mobile app offers an array of features aimed at enhancing user experience. Agents and employees can digitally onboard themselves, connecting to a vast network of agents nationwide and expanding their business reach.

Additionally, the app provides access to a comprehensive range of financial products, including various loan types, with plans for further integration of real estate, Loan Against Securities (LAS), and insurance. Moreover, the app integrates with 27 lenders, facilitating quick data entry, approvals, and disbursals through digital APIs.

A dedicated Training Centre empowers users to enhance their product knowledge and upsell additional financial products to customers. Equifax integration is already operational, with CIBIL integration soon to follow, providing easy access to customer credit reports directly through the app.

Detailed MIS reports on logins, calls, and other activities enable managers to offer insights and guidance to improve productivity, while robust data security measures ensure the confidentiality and security of user data, logins, and disbursals.

Raoul Kapoor further added, “With a legacy spanning over three decades, Andromeda remains committed to driving innovation and excellence in the financial services landscape. Through OneAndro and our continued dedication to leveraging technology, we aim to empower customers and partners alike, ensuring access to tailored financial solutions that meet their evolving needs.”

Founded in 1991 by V Swaminathan, Andromeda has grown into India’s largest loan distributor. With a rich legacy spanning over 30 years, covering 1000+ cities, boasting over 3000 employees, and a strong distributor network of over 25,000 partners, Andromeda is poised to embrace the future by harnessing the power of technology.

By merging our profound understanding of the marketplace with the latest trends and developments in digital technology, we assist customers in finding the financial products that best suit their needs.