Servosys Solutions was called upon by a leading Asian bank to deploy a solution and transform their retail loan disbursement system to improve on customer satisfaction index.
The bank has more than 4000 branches of which about 100 branches are for retail assets. The lender was grappling with issues such as managing high volume of loan applications, accommodating changes pertaining to regulatory norms and other business dynamics in their process workflow. In the absence of an Omni-channel to enable the processes from lead generation to customer onboarding, loan request processing, underwriting to post disbursement processes, the bank was not able to streamline their operation.
The Challenges Faced Were
- Under-utilized manpower, inability to handle peak loads during month-ends.
- Not able to scale sales operations for penetration in remote areas/locations.
- Unable to plug direct selling agents for support.
- Delays in disbursements.
- Inability to track turnaround time and customer experience parameters.
- Cumbersome multiple system touch points for users.
- Smoother execution of peak loads during month-ends and festive seasons.
- All core systems integrated and single User Interface provided for end users.
- The users can upload disbursement requests from anywhere andanytime.
- Now with automated disbursement the credit institution could avoid opening of new Retail Asset Centers in remote locations.
- Delays in disbursements are a thing of the past now as the TATs are completely monitored and exceptions escalated in time, disbursements within 3 days.
- Capacity utilization to the fullest, manpower requirement reduction of 38% within first year of deployment.
- Loan Book Size increased by more than 3 times in 6 years.
- The Bank, now, processes 100 thousands retail loans per months.