Retail / Consumer Lending - Retail / Consumer Lending

BANKING & FINANCIAL SERVICES

Retail / Consumer Lending

Deliver superior retail lending services with enhanced customer experience driven by straight through processing.

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Our consumer loan origination solution is adaptable and agile. We have built it on a Configurable Unified Platform that helps you whether you are a Bank, Credit Union, NBFC or any other financial institution. Using this solution, you can automate your consumer loan processes from end-to-end. That is, from pre-screening, application processing, underwriting to disbursal, across a wide range of loan products. It is flexible and responsive to the extent that you can independently run most of the changes in a paperless and electronically driven workflow environment.

Brochure: Newgen's Solution for Simplified Retail / Consumer Lending

Ensure faster time-to-market with our ready made solution accelerator for retail banking.

Pre-screening
Calculating the eligibility of the applicant and finalizing the initial request from the proposed products offering from the system, along with the credit checks to remove duplication and identifying possible defaulters based on Blacklist/AML/Person Non Grata & various other checks

Underwriting & Credit Analysis
Comprehensive credit assessment tools that take into account financial information, employment information, account conduct and pricing and engenders a score as a part of the internal scoring engine developed

Document Management
Maintenance and segregation of the documents on the basis of  deferred/waived off/received/pending and generating loan packages with pre-defined bank specific templates

Disbursement
Integration with core banking and card management systems for customer and account creation and supporting amortization schedule generation with full/partial disbursement schemes

Integration with Third Party Applications
Seamless integration with bank’s third party and legacy applications such as Core Banking Solutions, Rating Applications, Credit Bureau Systems etc.

Credit Application Management
Seamless on-boarding with several configurable templates for customer and product specific data capture

  • Enhanced customer delight with omni-channel access to loan applications initiated from different devices
  • Increased business value with smart and intuitive self-service portals for customers
  • Increased operational efficiency with the elimination of duplicate data entry, reduction of errors and improved policy exceptions management
  • Holistic automation of credit policy with abolition of manual intervention, effective decision making using the rule management system
  • Enhanced compliance and process standardization with drilled-down monitoring of process service levels across the lending life-cycle
  • Enhanced risk management with internally developed scoring engines and integration with external credit bureaus
  • Comprehensive configurability to keep the solution adaptable to most of the changes without any vendor intervention

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Retail / Consumer Lending - The Seven Guiding Principles of Digital Account Opening

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