About Client
The client is among the most responsible NBFCs in India with the urge and commitment to serve socially motivated double-bottom-line enterprises. They have a robust lending portfolio diversified across Microfinance, Agri finance and Impact MSME. They offer a well-administered mechanism to lending institutions to effectively utilize their funds in the microfinance sector without directly being exposed to the retail microlending category.
Country India
Industry Finance
Business Requirement
- Develop a platform for company staff, managers, and admin to manage microfinance activities for the end user applications
- Ageing analysis reports took up to 4-5 days to be created, leading evaluation delays and further transactions
- Overcome lack of accuracy and efficiency in the process workflows
- Make collection management faster that took too much time to be recorded
- Get rid of unstructured data and files made the process lengthy and error-prone
- Limited visibility of customer profiles and their outstanding transactions
Our Solution
The centralized application platform with following capabilities:
- Automated system for employees to calculate the internal credit score considering the following parameters of financial health, organizational structure, operations & controls, and an overall score, based on client data and credit reports
- Loan sanction record keeper & tracker for employees with the capability of sanction letters generation
- Loan approval workflows and reporting system for managers to manage loan applications, due diligence, credit proposals, sanctions, documentations, disbursements, and utilization tracker
- Tracker for current client portfolios, loan analysis, bottlenecks, and management dashboard showcasing the current status and outstanding’s of clients
Tools & Technologies
- Development Framework: NodeJS
- Database: MySQL
- Deployment: AWS: EC2, RDS and S3 enabled
Business Outcomes
- All reports created within seconds, saving processing time by more than 95%
- The centralized platform to track repayment, account outstanding, data collection and auto calculation decreased the dependency of manual staff work and made it accurate
- Centralized data storage helped ensure the optimum data quality and no data slippage with a streamlined data collection process
- Transaction tracking became exponentially easier, which saved the time and money required to manage transactions
- Increased accuracy and efficiency in workflows