FICCL : Enabling LOS process

Fullerton India Credit Company Limited (FICCL) planned for rapid rollout of

branch networks to reach a large customer base. The key focus behind

conceptualization of this project was that FICCL wanted to make every branch an

independent profit center complemented by centralized operations and policy

governance. This, as the company could foresee, would effectively address the

customer needs locally and, at the same time, would help branches abide by the

centralized policy guidelines and operations.

The deployment of this project essentially automates the entire Loan

Origination System (LOS), which takes care of all loan processing activities

e.g. Application Data Entry, Credit Verifications, Credit Approval, booking of

loan as well as post-booking application and document tracking. The company is

trying to resolve challenges such as achieving profit-oriented branches,

reducing turn-around-times, lowering cost of operations and improving customer

experience by the deployment of this project. As a future growth of this

project, FICCL has a target of reaching 1000 (currently around 750 branches)

branches by 2009 and integrating all those branches with this BPM system.

This is one-of-its kind project in India. FICCL is growing at a rapid speed

and has so far opened more than 750 branches across the country in a short span

of around 18 months of its roll out. FICCL also has further plans to continue

opening new branches at such a pace.

The project enabled FICCL to automate and centralize its processes for

efficiently managing the processes while continuing to extend the solution to

newer branches. Bringing additional branches under the ambit of the solution,

while ensuring performance of the system and that too under highly squeezed

timelines is one of the major accomplishments of the project. The system is also

capable of handling new business requirements, financial products and scheme

launches in an agile and efficient manner.

P. Krishnamurthy Executive VP Technology