Digital Money Lending Solution

Background

Digital transformation is at the core of every organization’s business strategy. Financial industry aims to enhance customer experience & engagement by offering products and services digitally. In avenues of offering finance to the customer, loan processing is one such area which demands digitization. Web portals offer information for loan products. However, customers do not have option to apply for loan online. To avail loan, Customers visit branch or send paperwork to branch via fax/courier. At the branch, employee will scan the paper work & upload to the document management system. This require huge amount of paper, toner & resource time. The current process has longer cycle time & involves paper & administration cost. Given a solution where member can directly apply & sign the loan application online will turn out to be time, cost saver & customer experience will greatly be enhanced.

Problem:
  • Longer loan processing time.
  • High paper & administrative cost.
  • Requirement of physical presence or reliability on fax/courier.
  • Higher lead drops out, as customer must send the application offline.
Signature process-digitally-cygnature
Solution:

Cygnature, a digital signature solution allows customer to digitally sign the loan application. Customer can now apply for loan online by visiting lending company portal. The solution offers employees to automate the loan processing task which was earlier manual. This save on paper & administrative cost. As end-end process is online. Audit trails, provide easy identification of document of as to which member signed which document. This helps company to stay compliant & low risk. Data can be stored in-house or cloud, company can avert to data security. The solution can be easily integrated with existing ERP/CRM through connectors. The solution is white labelled solution. All the transaction is done on client website. At no point customer leave the client website. The solution can help organization achieve goals of digital transformation strategy & open new channel for reaching their customer.

Result:
  • A new channel for offering service to the customer.
  • Reduce Loan processing time
  • Higher lead conversion to sales.
  • Zero paper cost
  • Enhanced customer experience