Servosys Solutions | Micro Finance Lending
20471
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Micro Finance Lending

Streamlining large to small ticket-sized corporate lending processes by providing an automation system,document management system to streamline workflow, improve collaboration, and increase productivity. Connect With Servosys

Project Overview

A leading microfinance lender contracted Servosys Solution to make their processes of micro-financelending services fully automated, paperless so that they can reduce TAT and increase their annual loan book size. Bringing automation in place for a streamlined process of lead generation to disbursement will increase organization’s productivity and also reduce manpower requirement.

The Challenges Faced Were

  • There was no mobile/tab based system to process customers’ details and documents at customer’s place.
  • No front-to-backend connected office for data validation and real-time processing of field officer’s request by backend officers.
  • Cumbersome handling of unstructured document and KYC processing.
  • No convenient tool was in place for quick data validation, scanning/re-scanning of documents.
  • Slower underwriting processes and semi-technical credit appraisal processes.

Solutions Offered

  • Tab/Mobile-mode-enabled system helpedfield officer to key-in customer’s details at customer’s place.
  • Documents are collected, digitized, compressed and achieved automatically.
  • Streamlined KYC processes with receiving of documents and other personal details from the customers.
  • Processes from lead generation to post disbursement were streamlined and automated.
  • Smooth digitization, scanning, editing, storage and archival of documents were provided.
  • Dedupe, credit appraisal and underwriting processes were made fully automated.

Major Benefits

  • Complete processes from lead generation to disbursement is paperless and reduces TAT from about 20 days to 1.5 days.
  • Helped achieve target of 15,000 loan booking per day within 18 months from inception.
  • Increased productivity several time as the same employees are doing Microloans, Retail Loans, and CASA & Collections.
  • Recognized as one of the best Tech solutions for microfinance (from among 20 plus countries participating).