Fullerton India Credit Company - Automation of Loan Collections

The Problem: The company plans to extend its portfolio to different financial services. Being a recent entrant in the retail-lending segment, Fullerton India plans a rapid roll out of branch network to reach to a large customer base. So the company wanted to reduce the costs and increase efficiency in loan process by capturing documents and information as it originates, complemented by centralized operations and policy governance.

The Solution: So company required a cost effective solution which could help them in centralizing the policies but with decentralized decision making. Additionally, a solution was needed where documents are available as scanned images that can be used in the loan booking process without them actually getting transferred between locations and within location.

The Result: It resulted in the implementation of different Business Process Management (BPM) products suites like HUB Loan Booking Process (HLBP) and Loan Collection Process. Some of its benefits include reduction in end-to-end loan processing time, efficient tracking of loan status and sales prospects and a greater customer satisfaction. Apart from that, it is faster and helped in informed decision making.