Our client offers a credit products (card and loan) and was marketing aggressively to acquire new clients directly through their fresh approach to credit in the industry. Client needed an Automated Loan Processing System that can handle synchronization across computers and different systems – loan application processing and approval, pull and save credit bureau, document preparation, De-duplication, Insurance calculations and tracking, collections, reporting and analytics to make informed decisions for approvals keeping customer satisfaction goal in mind due to sheer high volumes of sign ups driven by Field Sales. Faster Go-To-Market and Minimized Infrastructure cost was at the backdrop of our Client’s mind – They wanted a quick and effective solution on the Cloud with superb analytics capabilities for tracking process.
A5E team implemented this solution by building a custom application within Salesforce Cloud Platform leveraging Sales, Marketing Cloud with multiple technologies and SOAP based web services. A5E successfully addressed the following:
- Complete Loan Application Process Re-engineering leading to automation based on geography, region, field sales wise.
- Data capture, Tracking, Over-rides, System of Records (Megasys) integration and De-duplication check via synchronization and adjudication avoiding multiple entries into the system thereby ensuring high levels of accuracy in reporting.
- Versapay integration for Payment Processing and Payment Systems for real-time auto credit and debit transactions.
- Implemented Rule based pricing policy, Affiliate incentive & Tier-based Partner referral system
- Built-in custom validation checks throughout the loan application lifecycle to maintain data integrity & hygiene.
- Role based privileges for business users and field sales for triggering data synchronization
- ETL job was leveraged to keep the customer loan application secure for further creation of accounts leading to Automated Loan Processing. This was earlier being done manually and was resource intensive.
- Custom dashboard creation for the business users and management team for making informed decisions and approvals – Dashboard focused on actuals vs. pipe, approved vs. rejected, Number of sign ups with analytics to further strengthen the sales with newer campaigns, empower field sales and back office.
- Improved loan application process time by 80%
- 90% faster sign ups due to reduced human intervention
- Client’s Customer Base Grew by More Than 400% in the Last Year!