The following section shows how the two products are used to fulfill complex requirements in truly technology-driven situations where customer experience, cycle time, productivity, quality of transactions and compliance are key to success.

Origination System for Retail Loans

One of the largest Indian private banks mandated Servosys Solutions to build a loan factory. This case study describes how the bank overachieved their goals of sanctioning loan for one of their key products – Gold Loan.

Gold Loans traditionally have been processed manually. A borrower would wait for hours at the bank counters for getting a sanction or for valuation of his own Jewellery price. In the fiercely competitive domestic market, great customer experience is the real differentiator for customer retention and acquisition. The bank wanted to sanction Gold loans in under 15 minutes, as a key product differentiator, using Servosys product suite.

The Challenge:

  • The bank was not able to scale up sales operations for penetration in remote areas/locations.
  • Was unable to plug direct selling agents for support as there was no enterprise mobility available to the bank staff.
  • Wanted to cut down on delays in disbursements while complying with complete regulatory requirements.
  • Was unable to track turnaround time and customer experience parameters.
  • Cumbersome multiple system touch points for users.

The Solution:

The client was provided full fledges solution using Servosys product framework. The eight underlying systems were seamless integrated through ServoStreams™. The users now do not require to log in into multiple systems anymore.

The Benefits:

Upon deployment of our state-of-the–art platform, the following results were achieved:

  • Fastest processing times (just in 8 mins.)
  • Data validation according to regulatory norms with addition of supporting images for compliance checks.
  • Real Time Dashboards.
  • Unified User Interface for end users on mobile and desktop.
  • Integration with systems like CBS, LMS, NSDL, CPCS, SMS Gateway, etc.
  • Traceability of all approvals and tasks along with higher productivity.
  • Generation of printable forms.
  • Big increase in the Gold Loan Book.