Let’s be honest. Waiting days – sometimes weeks – for a loan approval feels ancient. Yet many Tier‑1 banks still run on fragmented, manual loan processes.
We’ve seen it firsthand. At NMB Bank, retail, SME, and corporate loans (auto, credit card, housing, education, EV, LC, bank guarantee) were all stuck in slow, paper‑heavy workflows. Faulu Microfinance had the same struggle across retail, MSME, and community loans.
So what changed?
The fix: one BPM platform, real integrationWe implemented Newgen IBPS (5.0/4.0) as the central BPM engine, connected to core systems like Finacle via SOAP/REST APIs. The results?
- Loan cases now get auto‑allocated based on user skills.
- Risk rating uses weighted scoring – no more guesswork.
- Real‑time dashboards show performance by user, branch, and product.
At Faulu (live November 2024), the system talks to eight external systems – CBS, CRB, Spine Mobile – automating the entire lending cycle.
The numbers that matter
- 60‑70% reduction in loan approval TAT (now same day to 48 hours)
- 40% faster integration with core systems using OnePoint API Management
- 30‑50% lower compliance costs thanks to automated RegTech
- Document processing errors? Below 0.5% – an 85% improvement
What your bank gets
A complete lending automation – origination, servicing, collections. A 360‑degree customer view pulling from CBS, credit bureaus, and mobile platforms. And a centralized Newgen DMS with metadata tagging and auto‑generated documents.
Ready to compete with neobanks? Let’s talk. Same‑day approvals are not a fantasy anymore.