Credit Origination Revolution: The Power of Automation
Transforming the credit approval process from 8 days to a mere 20 minutes, yielding a remarkable cost savings of over USD$40M
Goals
- Roll out a document capture and processing solution that spans dealers, the agency network, Icarros portal, and OLX.
- Compress processing durations from a matter of days down to just minutes.
- Amplify customer satisfaction and purchase intent.
- Markedly diminish manual labor requirements.
Strategy
- Launched a user-friendly portal and mobile app at Point-of-Sale (PoS), integrated seamlessly with established bank systems and bureaus including Detran/Denatran and SEFAZ.
- Employed OCR and ICR technologies to automate the data extraction tasks that once required manual handling.
- Incorporated advanced signature and facial recognition capabilities.
- Streamlined approval workflows via a sophisticated Rules Engine.
Highlights
- Enabled real-time oversight of demand and pivotal business metrics, such as proposal approval and rejection rates.
- Over 12,000 resellers now leverage this transformative solution.
- Facilitated the automated disbursement of payments.
Results
- Slashed SLAs, transitioning from an 8-day wait down to a lightning-fast 20 minutes.
- Realized substantial cost savings, totaling $40M.
- Halved processes that once demanded human intervention.
- The solution has been adopted and is actively used by over 12,000 resellers.
