India’s Leading Microfinance Institution Digitizes its Loan Origination Process with Newgen

Overview

Headquartered in Bengaluru, our client is a known Indian microfinance institution, specializing in providing micro loans to women customers, predominantly located in remote areas across the country. Their operations span 364 districts across 16 states and one union territory, the institution’s reach is extensive, supported by a network of 1877 branches.

The client’s objective was to address challenges within the existing system while focusing on minimizing loan disbursement time, reducing overall processing cycle time, and boosting workforce productivity.

How Newgen Made a Difference?

Our client’s choice to digitize its entire loan origination process yielded significant enhancements in efficiency and minimized TAT. Furthermore, post the implementation, customers gained the ability to conduct bulk lead assignments. Newgen assisted the client by providing a comprehensive view through mobile and web dashboards for real-time tracking of documents and statuses. Read the complete case study to understand how:

• Loan disbursement time under affordable housing loans improved by 80%
• TAT for processing loans was reduced to 10-15 days