The customer, one of the biggest banks in Asia, which deals in corporate and SME lending businesses, was struggling with their higher turnaround time of corporate loan process. Document-intensive corporate lending processes required a streamlined document management system with greater editing/reviewing/modification capability. And, an automation system to streamlines process workflow and real-time monitoring system to keep a vigil eye on KPIs so that TAT can be reduced, productivity can be increased and customer experience can also be improved.
The Challenges Faced Were
- There was no single system for origination and disbursement of large ticket corporate loans.
- Various teams like senior directors, legal, accounts, third-party vendors, etc. found it difficult to collaborate and loan disbursement TAT was too long.
- Comments from all team members were not recorded in the system and audit trail did not exist.
- Seniors were required to first write in MS Word or MS Excel before they could paste things like tables, graphs, etc. into the Credit Appraisal Memo (CAM).
- Sometime the file sizes would become as big as 900 pages due to static and dynamic inputs, posing challenge for the approving parties.
- A solution was implemented using Servosys product suite ServoStreams that streamlined the entire process of reviewing, modifying terms, sanctioning and disbursing the loans along with audit trails.
- The stakeholders can now make changes to the selected portions of the CAM/CAL or T&Cs through special controls provided and also leave comments for future audit purpose.
- The system generate a variable length PDF that was optimized based-on industry type.
- Centralized system equipped with document management capability for tracking and monitoring was provided.
- Providing interface to customer, increasing customer experience and satisfaction.
- TAT of around 3 months is reduced to under 1-1.5 month.
- Lead generation and customer engagement up by 25% in 6 months.
- Clear visibility of on-going business, thus diminishing the risk of NPAs.