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
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.