M&M Fin to increase due diligence for onboarding: CEO

due diligence around customer onboarding and bring all branches under centralised processes as it puts in place safeguards to ensure the fraud reported in its Aizwal branch is not repeated, CEO Raul Rebello told analysts in a conference call.

The changes include changing the organisation structure to one headed by a branch executive who will also be in charge of risk and appointing a fraud control head to oversee risk management, Rebello said, explaining the changes the company has made to ensure that the fraud unearthed in the company's Aizwal branch is not repeated.

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Rebello said that the company has started centralising operations in the last six months to overcome the challenges of decentralised operations — how it was structured historically.

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