Quickest Loan Processing for Leading Non-Bank Financial Institution in India

Client

The client is one of the largest financial institutions in India, offering a diverse range of financial products and services across the corporate, retail and infrastructure finance sectors. It also provides mutual fund products and investment management services through its direct and indirect wholly-owned subsidiaries.

Business Challenges

• Manual processes and the need for extensive physical document collection and verification. 
• Unsatisfactory turnaround time (TAT) leading to an underwhelming customer experience
• Complex interactions due to the non-integrated environment and manual touchpoints.
• System configuration issues as a result of no offline synchronization and standard configuration and data capture.  
• Lack of real-time insights, resulting in customer dissatisfaction and loss of business

LTI Solution

Salesforce application for the business executives, allowing them to:

•      Manage existing customers
•      Identify potential customers
•      Ensuring the application is always up-to-date and properly configured  

My LTFS for all the employees to:

• Create tickets, manage leaves, view job opportunities,  perform buddy referrals, and carry out appraisals                                                        

  My MFI, a micro-finance application, for:       

•     Collecting documents online for new applications
•     Performing biometric-based verification (with UIDAI) 
•     Enabling the e-signature process to authenticate potential customers 
•     Gaining visibility into loan status 

Survey Management, with a complete survey application to gauge the opinion of their employees, customers, and agents.                            

Business Benefits 

• 30-second loans, enabling the quickest loan processing in the industry. 
• 20-25% target loan book growth, post the transformation. 
• 15+ critical real-time integrations with government and other agencies for sanction verification. 
• Increase in applications processed – from 60,000 per quarter to 160,000 per quarter.
• Lower operating cost with completely paperless onboarding of customers requiring no human intervention. 

Oracle EBS Tracks/Modules

• Native Mobile Application Framework (Android)
• JDeveloper 12c
• Oracle MCS