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Overview
One of India's largest gold loan NBFCs, with 3,000+ dedicated gold loan branches across 500+ cities. Gold loans require the borrower to physically visit a branch and pledge gold. No visit, no disbursal. Voice AI qualifies the lead, answers questions on eligibility and rates, and schedules the branch visit. Everything after that happens in the physical world.
SquadStack.ai engaged 258,000 leads across three campaigns with seven voice agents and two voice variants in 33 campaign days, drove 240+ confirmed gold loan disbursals worth ₹3.96 Cr in a single month.
The Challenge
1. Leads piled up faster than the calling team could process them.
The client generates gold loan leads from its website, aggregator partners, branch virtual numbers, and digital lending platforms, with eight or more sources active on any given day. Leads arriving after 3 PM got only a single attempt, with retries pushed to the next day. The calling team's fixed capacity could not keep pace with the volume flowing in, and unprocessed leads lost value by the hour.
2. Slow callbacks lost borrowers to competing lenders.
A borrower comparing gold loan rates checks two or three lenders in an afternoon. By the time the calling team called back, the borrower had already walked into a competitor's branch. The client's batch-import process created a lag between lead creation and first contact that shrank the conversion window before the first call was even placed.
The Solution
SquadStack.ai deployed Voice AI across three campaigns in parallel.
- NTB (New-to-Bank) Gold Loan: The Voice AI calls website and partner leads, qualifies on gold ownership and loan interest, answers questions on eligibility and documents, and schedules a branch visit with a confirmed date and location.
- Branch visit confirmation: A follow-up campaign calls leads who already have a visit scheduled to confirm attendance and reduce no-shows. This campaign converted at 12.27%, against the main campaign's 4.55%.
- Partner campaigns: Dedicated configurations for aggregator leads, separating serviceable leads from unactioned pools to avoid mixing intent quality.
Seven voice agents were tested across two voice variants. Script changes were turned around same-day. This resulted in lifted conversion from 5.2% to 7.6%.
"Gold loans have always been a branch-first business, and that limited how many borrowers we could reach through outbound calling. With Voice AI handling qualification and branch-visit scheduling at this scale, we can now reach every lead across every source the same day it comes in. That changes what gold loan distribution looks like."
- Senior Vice President, Gold Loans, Leading Gold Loans NBFC
The Impact
₹3.96 Cr in gold loan disbursals in one month, with the cost-to-disbursal ratio dropping from 8% to under 3%.
The campaign's cost-to-disbursal ratio started at approximately 8%. Through script iteration, cadence tuning, and voice agent optimization, SquadStack.ai brought it down to 4% within three weeks.
Gold loan disbursals lag the call by days: the borrower still needs to visit a branch, get gold assessed, and complete documentation. Accounting for this attribution lag, the ratio dropped further to 2.91% with 240 loans disbursed worth ₹3.96 Cr, and was still improving at the edge of the measurement window.
258,000 leads processed at 81% connectivity.
9,477 branch visits scheduled, 70% within two days.
4.55% of connected calls resulted in a branch visit. 70% of those visits were booked within two days of the call, with an average of 2.19 attempts before conversion.
Looking Ahead
Following the NTB campaign, the client expanded SquadStack.ai's scope to ETB (Existing-to-Bank) top-up outreach: Voice AI calling existing gold loan borrowers with offers for additional credit on gold already pledged. In its first 28 days, the ETB pilot processed 24,770 existing borrowers and scheduled 333 expert callbacks at a 5.4% rate.
The POC also surfaced clear next levers: adding Telugu, Tamil, and Kannada to recover 1,900+ language-barrier leads, moving to real-time API-based lead dispatch to compress first-contact time, and routing the 5,192 personal loan requests captured during gold loan calls into a cross-referral pipeline.