A Leading SME lending player achieved 3X Loan Portfolio Growth with a 70% Faster Document Retrieval and Rapid Disbursement process
Introduction
The case study reveals how innovative solutions, specifically document-intensive SME lending processes, ushered in a new era of operational excellence and customer-centricity, reshaping the bank’s SME lending landscape. Our partnership with Asia’s largest bank brought transformative changes to enhance their SME lending operations and achieve remarkable milestones.
About Client
Our esteemed client, Asia’s largest and most reputable bank, stands as a trailblazer in the realm of financial services. With a strong foothold in SME lending, the bank is dedicated to serving the diverse needs of businesses across various sectors. The bank’s visionresonates with adapting to evolving market demands while ensuring operational efficiency and customer satisfaction.
Core Challenges
One of Asia’s largest banks, specializing in SME lending, faced a series of operational challenges. These challenges encompassed high turnaround times for SME loan processes and document-intensive procedures. Additionally, the bank aimed to boost productivity, optimize SME lending operations, and enhance the customer experience through more efficient and timely service delivery.
High
Turnaround
Time TAT
Document Intensive Processes
Lack of Document Management
No Automated Workflows
Lacked Real-time KPI Monitoring
Lack
of
Modernization
Lack of
customer centric
approach
Absence of
Innovative
BPMS Solution
The priorities we set for
CX Enhancement
Seamless Process Integration
We first focused on integrating the bank's SME lending processes by uniting frontend and back-end functions through our comprehensive BPMS solution. This approach enabled real-time data sharing, minimized bottlenecks, and eliminated manual handoffs for a holistic view of the lending process.
Advanced Document Management
Our solution is centered on automating document collection, digitization, and archiving. This advanced system streamlined KYC processes, enhanced accuracy, and facilitated seamless document retrieval, accelerating loan processing and enriching the customer experience.
Real-time Monitoring and Reporting
We integrated real-time monitoring and reporting capabilities, enabling the bank to monitor essential key performance indicators (KPIs), gauge process efficiency, and drive databacked decisions. This facilitates process optimization and the resolution of operational hurdles.
Key statistics achieved
by the lending player
Solution Proposed
Document-intensive SME lending processes
1. Comprehensive Process Streamlining
Transformed the SME loan process end-to-end with ServoStreams. Comprehensive audit trails were integrated to ensure transparency and accountability.
2. Enhanced Stakeholder Collaboration
Empowered stakeholders to collaboratively edit CAM or T&Cs sections with specialized controls. It allowed comments and annotations for better decisions.
3. Optimized PDF Generation
The system dynamically created variable-length PDFs tailored to industry needs, ensuring concise yet comprehensive documents for enhanced readability.
4. Centralized Document Management
Established a centralized system to track and monitor loan-related documents. This ensures streamlined access while mitigating the risk of data loss.
5. Customer-Centric Interface
Introduced a CX-centric interface, granting direct
access to the loan process. This enabled customers to
interact directly while minimizing intermediaries.
6. Automated critical workflows
Automating and streamlining workflows; eliminating
bottlenecks, reducing manual intervention, and
significantly accelerating loan processing times.
7. Compliance and Audit Trail
Integrated regulatory compliance and robust audit trails throughout the loan processing journey; ensuring transparency and traceability.
The "Difference" we delivered
Overcoming Obstacles
for Enhanced CX
- BEFORE
- AFTER
- Manual Document Handling
- Automated Document Handling
- Slow Turnaround Times
- Accelerated Turnaround Times
- Inconsistent Data Validation
- Enhanced Data Accuracy
- Operational Inefficiencies
- Real-time Monitoring
- Customer Dissatisfaction
- Improved Customer Experience