Instant Overdraft Lending Software Solutions

One of the largest banks in Asia approached Servosys Solutions with the aim of increasing its market share in Overdraft Loan products by reducing the Turnaround time (TAT) from 3 working days to a few minutes.

As we know, an Overdraft Loan for SMEs and other eligible individuals as a short-term loan has always been one of the most preferred modes of lending by Banks and NBFCs. However, such loans have always been time-consuming and paper-intensive processes. Such loans are requested by the customers for a short-term period, so an Overdraft sanction with higher TAT has always been less-desirable and ‘lesser-yielding’ for lenders and customers.

• No system in place to bring leads from Google ads & other social media platforms.
• Difficulties in property paper analysis & evaluation.
• Delayed creditworthiness processing due to paper-intensive work.
• Delayed disbursements due to higher TAT.
• Cumbersome credit appraisal processes hindered the expansion of loan books.
• Unable to tap new customers looking for OD loans for a relatively shorter tenure.

• Social media & other lead-generation platforms are connected with the system to bring more leads.
• Auto-processing of Leads and GST return files based on a credit evaluation.
• C/A Statement Based Overdraft Loan offer for new customers.
• Paperless processing and that too without offline involvement.
• Automation-enabled underwriting process.
• Online Acceptance and Sanction mechanism to reduce TAT.

• TAT reduced to 3 minutes from several days for pre-approved customers.
• The highest number of 548 OD was sanctioned in one day.
•  The deployed solution reduced TAT from 3 days to 30 minutes for existing customers.
• Within a few months of deployment, ~40K OD was successfully sanctioned.