IDBI Launches Fully Automated MSME Loan Processing System
Bombay, May 19 (KNN) IDBI Bank has launched its fully digitized end-to-end loan processing system (LPS) for its micro, small and medium enterprises (MSMEs) and agro products.
This new loan processing system integrates seamlessly with data fintechs, desktop validations, document storage / retrieval, account opening / management, client notifications and portfolio management capabilities, as well as the built-in policy / cancellation settings.
âLPS would offer a total of more than 50 product lines and would offer a transparent credit life cycle with more than 35 interface touchpoints with numerous satellite systems. The LPS integrates with the existing main database, the human resources management system and various other applications of the Bank. This utility would dramatically improve the customer experience with improved turnaround time, âsaid Suresh Khatanhar, Deputy Managing Director, IDBI Bank.
These features of the fully digitized and automated loan processing system further aim to provide a superior technology-based banking experience to the bank’s MSMEs and Agri. customers. The platform is designed to incorporate mimic criteria and credit policy parameters for higher underwriting standards.