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.
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.
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.
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.
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.
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.
Implementing a tab/mobile-based system empowers field officers to capture and input customer information directly at the customer’s location.
The solution automated the collection, digitization, compression, and archiving of documents, eliminating manual processing and reducing errors.
By receiving documents from customers, the KYC processes were streamlined, enhancing compliance and speeding up customer onboarding.
The solution streamlined processes from lead generation to post-disbursement, ensuring a seamless and automated journey for borrowers.
The system facilitated smooth digitization, scanning, editing, storage, and archival of documents, ensuring easy access and reduced physical paperwork.
The system facilitated smooth digitization, scanning, editing, storage, and archival of documents, ensuring easy access and reduced physical paperwork.
The proposed solution’s automation and digitization features led to improved operational efficiency, reduced processing times, and ultimately, a better customer experience.
Servosys Solutions is a unit of EML Consultancy Services Private Limited, a company headquartered in New Delhi, India. We are one of the fastest-growing providers of software products and technology services for business process automation solutions that address challenges like process turn-around time, organizational productivity, regulatory compliance, business scalability, operational visibility and excellence.
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