Banks and financial institutions face brutal competition from crowdfunding and peer-to-peer lending firms in the current market. They are looking to enhance their revenue, asset value, and the number of active account holders to stay ahead. However, these institutions encounter various challenges, such as loan cancellations, which can negatively impact their overall revenue.
The loan process comprises various factors, such as delays, increased operational costs, and rejections affecting financial institutions. Having insight into cancellations can help identify and correct mistakes, increasing revenue. A complete 360° view of the loan process can help make the process smoother.
Loan
Cancellation
Low Customer
Satisfaction
Increased
Operational Costs
Manual
Errors
FinTech Revenue Maximizeris a turnkey solution that gives lenders 360° visibility of their lending practice and process. This solution optimizes loan processes, improves customer satisfaction, closes a high volume of loans, and reduces bad debts. Process mining helps to spot bottlenecks, risks, and unproductive activities with actionable insights to maximize revenue possibilities. It also helps create a customized KPI and root cause analysis to make wise decisions.
The Cancellation View demonstrates the primary reasons for cancellation applications categorized by Channels, Loan type, and Volume. It also allows us to investigate the reasons for rejections profoundly.
Through cycle time analysis, we can identify the bottleneck in loan
processing and determine which areas require improvement. This helps to
introspect the targeted process area for development.
The benchmark view facilitates us to compare parameters within the organization, such as channels, and loan types, in order to identify and implement the best practices.
The channel overview provides a detailed analysis of the online, offline & agent channels’ performance. It helps compare the volume, loan issuing rate, processing time, and regional distribution.
18% Reduction in Cancellation
20% Decrease in Rework Rate
22% Reduction in Processing Time
360° Visibility on E2E Process
Our wealth of experience has equipped us with the proficiency to deliver exceptional services to you.
We have effectively assisted organizations with capable process modeling to enhance productivity.
Our team, with extensive knowledge, provides the best service and support to meet your needs.
We have successfully automated processes with enormous results benefiting the organization.
Talk with a dedicated Advisor who can help you assess your company so that you can know exactly what your needs are.
After your call, we'll send you a personalized Technology Roadmap to help you discover the solutions that are right for you.
Now that your technology needs are being handled, you can focus on running your business and staying ahead of the competition.