Decimal Technologies Revolutionizes Banking with AI-Powered Sales Enablement and Digital Onboarding

A decade ago, the phrase "banking on the go" meant finding a nearby branch. While mobile and internet banking revolutionized transactions, the first mile of banking—opening an account, applying for a loan, or verifying a KYC—remained stubbornly anchored to physical paperwork and branch visits. This friction was the primary bottleneck for financial inclusion and institutional growth.

Enter Lalit Mehta, Co-founder and CEO of Decimal Technologies. A mechanical engineer and IIM Ahmedabad alumnus, Mehta returned from New York with a vision to digitize the foundational processes of the BFSI sector. By building a mobile-first sales enablement layer, Decimal allows banks to take the "branch" to the customer's doorstep. Through their proprietary no-code platform Vahana and the digital lending marketplace Sarathi, Decimal is ensuring that the Indian economy scales at the speed of data, not paper.

From writing SMS-based code for Nokia feature phones to powering AI-driven underwriting for India's largest private banks, Mehta’s journey is a blueprint for persistent innovation in the fintech sector.

The Problem: The Physical Branch Bottleneck

Mehta identifies three drivers for digital investment in banking: efficiency, transparency, and risk management. Before Decimal, the "knowledge dependence" on branch staff made scaling impossible. Decisions were people-driven rather than data-driven, and banks struggled to reach the "unserved" segments due to high operational costs.

"It is impossible for any financial services organization to leave the decision in the hands of a few people because that's not a scalable model," Mehta explains. "Banks wanted to grow; they wanted to go beyond their branches... but the entire sales and servicing was still happening in the branch." This "last mile" gap meant that even as people used mobile apps for transfers, they still had to visit a branch to change an address or open an FD.

The Solution: Mobile-First Sales Enablement

Decimal Technologies solved this by enabling the "mobility of the branch." They provided sales forces with mobile applications that could handle end-to-end customer acquisition—onboarding, KYC, document collection, and instant decisioning—right at the customer's home or office.

"We do the complete process of customer acquisition... collecting documents, decision-making on behalf of the bank through our system, and fulfillment," says Mehta. This shift from physical to digital not only reduced costs but brought 100% transparency to the sales pipeline, allowing institutions like Max Life Insurance to train their 30,000+ agents based on actual lead-loss data.

Implementation: Innovating "Beyond the Means"

Decimal’s DNA was forged in an era of scarcity. When they started in 2009, smartphones were a luxury and GPRS was unreliable. Their first product for ITC required sales tracking on Nokia feature phones. Since data connectivity was patchy, they built a two-way SMS data communication system—writing complex J2ME code to ensure information reached the server without internet.

"The programming at that time was far more complex because you had to go beyond the means available," Mehta recalls. This focus on "Design and Innovation" over just "Money and Scale" is what allowed them to survive and thrive. Today, they leverage their Vahana no-code platform to build enterprise-grade BFSI apps in weeks rather than months, ensuring that banks remain agile in a hyper-competitive market.

The Human Side: Entrepreneurship as Creation

For Mehta, entrepreneurship is akin to a "sense of creation." He draws a parallel between a mother creating life and an entrepreneur creating an economy. This fulfillment is what allows him to navigate the "uncertainty of next month's salary" that plagues early-stage ventures.

He is also a strong advocate for Founder Belief. "If you don't believe in something... your ability to deliver the best is compromised," he notes. To stay focused, he relies on a close-knit ecosystem of family and friends—many of whom are his co-founders and former classmates from IIM Ahmedabad.

Future Vision: Design-Led Growth

Looking ahead, Mehta believes India needs to become stronger in Design. He argues that seeking speed through "hurried production" is a myth. Instead, designing it right the first time is what actually gives an organization speed and scalability. Decimal’s focus remains deep and focused: "Less is more... go deep in what you are doing rather than spreading yourself too thin."

Key Takeaways for Fintech Founders

• Positioning is Pricing: Don't let your desperation show. Position your product as a premium solution to command the same value as global brands.
• References are the Best Sales Team: 80% of Decimal’s growth came from doing justice to one customer at a time. Word-of-mouth is the ultimate compounding engine.
• Hire for Commitment: The first few people decide the path. Ensure they are absolutely committed to the vision, as they must navigate the same uncertainty as the founder.
• Human-Centricity in Robotics: Even in automated businesses, humans define the culture. Build an empathetic, humanitarian view for your team.

As the Indian economy aims for the $5 trillion mark, the efficiency of the financial supply chain will be the deciding factor. For Lalit Mehta, the mission is simple: to keep creating, keep innovating, and ensure that every Indian has access to banking services at the click of a button. By bridging the "paper gap," he is building the digital backbone of a new India.