Ujjivan prides itself on being a customer-centric organization that follows a strategy of developing products that directly address customer needs. Ujjivan has developed its entire product suite based on the needs of the various segments of financially excluded customers.
Ujjivan has segmented its customers by geographic location, occupation and income level, to identify their needs in order to develop suitable products and services for them. The product development process extensively relies on rigorous market research and product pilots to gather customer insights from the field as inputs into product development. Once the product is launched, regular customer feedback is solicited and products are reengineered as required, to complete the loop.
"Though group credit forms a majority of Ujjivan's existing base, Ujjivan has a portfolio in Individual lending too. Ujjivan has been exploring avenues to move beyond the group lending model and improve its reach by targeting other underserved customer segments. Ujjivan has a suite of tailored individual lending products that serves to the urban, semi-urban and rural segment. Ujjivan has already begun targeting the 'missing middle', and this portfolio currently encompasses a part of our outstanding loans."