Two of India’s leading lenders (bank and NBFC) needed help in enhancing customer experience for their segment of Builders or Construction Companies as they were finding it difficult to manage requests and compliances despite having a good LMS in place.The lender also wanted a monitoring system to keep a vigil eye on various business KPIs, NPA and strictly complying with regulatory requirements.
The Challenges Faced Were
- No system was in place to digitally issuing NOC and asking for the disbursement of trenches were increasing TAT.
- Cumbersome effort required to generate Credit Appraisal Letter (CAL).
- The absence of centralized reporting system to upload reports from various stakeholders.
- No real time trace of business KPIs.
- Paper intensive processes were requiring more manpower and causing extra delays in the disbursements and that was accounting to poor customer experience.
- Servosys provided CF Loan Origination & Monitoring System on its platform such that the end-customer of the bank could request for NOC issuance and ask for disbursement of a tranche from the comfort of his office.
- Multiple reports for visibility of business and decision support system, viz. Breakeven Point vs Actual Sale.
- Management of cases like multiple projects under singe builder.
- Capitalization of all customers in one-go (a file generated by the system allows their banker to bifurcate payments).
- Early warning systems for minimizing NPAs (thru multiple reports).
- Auto-generation of Sanction letter and CAL (Credit Arrangement Letter)
- Centralized system for uploading of reports from various stakeholders and management of compliance, viz. RERA.
- Growth in disbursement went up from single digit to triple digit after deployment of CF System.
- Compliance management and monitoring team requirement reduced from 12 FTE to merely 2-3 FTEs.
- Achieved higher customer satisfaction owing to single-day disbursement TAT (which was at least three days previously).
- Lower the TAT for issuance of NOC from four days to few seconds (i.e. click of the mouse). Enhancement of business visibility (ongoing projects) to the decision makers. Lowered the risk of NPAs. Custom reports as required by the Operations team were provided.