CASE STUDY
A leading microfinance lending player achieved 3X Increase in Loan Portfolio by streamlining large volumes of loan applications.
Introduction
Amidst the dynamic growth of the microfinance sector, our client was facing challenges in efficiently managing a growing volume of loan applications. Servosys Solutions orchestrated a paperless, automated lending solution that expedited processing times and catalyzed a remarkable threefold increase in their annual loan portfolio while maintaining the highest standards of operational efficiency and customer satisfaction. This pivotal shift revolutionized the microfinance loan application journey, redefining efficiency and impact.
About Client
Our client, a leading name in the microfinance industry, has been at the forefront of providing financial empowerment to underserved communities and small entrepreneurs. In this case study, we will delve into the success story of a prominent microfinance lending player that achieved a remarkable increase in its loan portfolio through strategic transformation enabled by ServoStreams, an innovative BPMS solution.
Core Challenges
The microfinance lending player was encountering significant hurdles. These challenges, spanning from fragmented customer data processing to the lack of streamlined operations, were instrumental in causing operational bottlenecks and stifling the full realization of growth prospects. The pursuit of efficiency and enhanced performance prompted the adoption of transformative solutions.
No Mobile/Tab-Customer Data Processing
Lack of Front-Backend Office Connectivity
Complete KYC & Unstrutured Domcuments Handling
Inefficient document validation & management
Slower Underwriting and Semi-Technical Credit Appraisal
Manual Processes Hindering CX
Ineffective Post Disbursement Processes
Lack of Scalable and Streamlined Operations
The priorities we set for
Operational Efficiency
Streamlined Customer Data Processing
With the integration of a mobile and tablet-based BPMS solution, field officers could efficiently collect and process customer data directly at their location. This significantly reduced processing time and errors, enhancing the overall customer experience.
Real-time Front-End and Back-End Connectivity
Operational excellence was attained by connecting front-end and back-end offices through our BPMS solution. The real-time linkage ensures swift validation and processing by field officers, eliminating bottlenecks and ensuring efficient workflow management.
Efficient Documentation and KYC Management
Our transformative solution automates document handling and KYC processes, freeing you from the burden of manual document management. This accelerates processes and enables lenders to focus on the core lending operations.
Key statistics achieved
by the lending player
Solution Proposed
Microfinance Lending Software
1. Mobile-Enabled Data Entry
Implementing a tab/mobile-based system empowers field officers to capture and input customer information directly at the customer’s location.
2. Automated Document Handling
The solution automated the collection, digitization, compression, and archiving of documents, eliminating manual processing and reducing errors.
3. Efficient KYC Processes
By receiving documents from customers, the KYC processes were streamlined, enhancing compliance and speeding up customer onboarding.
4. End-to-End Automation
The solution streamlined processes from lead generation to post-disbursement, ensuring a seamless and automated journey for borrowers.
5. Comprehensive Document Management
The system facilitated smooth digitization, scanning, editing, storage, and archival of documents, ensuring easy access and reduced physical paperwork.
6. Fully Automated Processes
The system facilitated smooth digitization, scanning, editing, storage, and archival of documents, ensuring easy access and reduced physical paperwork.
7. Enhanced Operational Efficiency
The proposed solution’s automation and digitization features led to improved operational efficiency, reduced processing times, and ultimately, a better customer experience.
The "Difference" we delivered
Transforming Challenges into Triumphs
- BEFORE
- AFTER
- Manual Data Entry
- Efficient Data Processing
- Disconnected Offices
- Real-time Connectivity
- Document-related challenges
- Efficient document management
- Slower Underwriting
- Accelerated Underwriting
- Operational Bottlenecks
- End-to-end automated workflows