Comprehensive sales order management system designed to meet customer requirements of sale request, approval, sale order processing, tracing and billing.
Financing industry is one of the earliest businesses that got computerized. However almost all of the first generation systems and programs are finding it difficult to handle the higher volume and the speed requirement of the present day. The following is one such example where we assisted an NBFC by providing a custom built loan origination software.
Our client is a leading Non-Banking Finance Corporation with a widespread network of over 77 branches in 5 different states. With a comprehensive range of custom lending products, our client offers vehicle loans, micro-business loans, loans against property, and swift cash loans.
A loan origination is a lengthy and time-consuming process that includes several steps – from the loan application, through underwriting, approval, documentation, and disbursal of funds. With the increase in demand for credit by individual entities, our client needed to reduce the time required to field opportunities. Our client was also facing other challenges such as inefficient process framework, disorganized document storage & long time requirement for retrieval etc. He was looking for a system that automates and manages their complete lending process on an end-to-end basis. Our client realized the importance of harnessing technology and partnered with Coherent for a comprehensive solution.
We designed a Loan Origination System(LOS) that automates work flow for loan processing – from acquiring a borrower, to processing their information, to vetting their credit standing including all necessary documentation, and then finally approving / rejecting funds. This new system by Coherent meets the needs of front-line, back-office and executive staff and improves efficiency at every level. We had also digitized the tedious and time-consuming affair of procuring and preserving documents. Our solution also offers security and scalability to process high volumes of loan applications.
While improving efficiency, mitigating risks, and improving borrower relationships, our comprehensive solution to loan origination also the following additional benefits:
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