Manual Loan Origination and Credit Decisioning: Lender’s Obstacle

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Manual Loan Origination and Credit Decisioning: Lender’s Obstacle

Manual loan origination is a tedious process, ask any credit officer around, and they will relay the same. From manually collecting information about the applicant, approving or rejecting the loan, manual loan origination is costly, error-prone and extremely time-consuming, which delays the entire process by weeks, and most customers abandon banks for this reason. TERA Indeed, manually entering data MOBILE of more than one client multiple times or in multiple places is a long road. What’s the magnitude of this? Credit officers will likely pile pending loan forms in the office, awaiting completion and subsequent approval stages. For approvers, relationship managers and credit analysts, manually checking eligibility is a lengthy process, and an extra workload. Now, more than ever, CxOs must make tough choices to expedite loan origination and automate manual workflows in order to maintain their competitive advantage. We are here to help with; How can NLS help to accelerate the automation initiatives? NLS Tech Solutions has completely eliminated delays and inefficiencies COLLECT TERA WEB BASED/CLOUD/ ON PREMISE SOFTWARE in loan application and processing. Dubbed Tera CMS, NLS Tech Solutions provides SACCOs, MFIs WHY CHOOSE TERA COLLECT? and Banks a uniquely designed 1. Do away with manual uploads by synchronizing data real time 5. Performance analysis for collectors providing insights for Credit Management System to save time performance appraisal. 2. Automated workload assignment hence ensuring fair 6. Parameterized and flexible workflows allowing Banks to easily distribution of workload and improved productivity. implement new collection strategies. 3. Parameterized alerts to customers and Bank on due 7. Risk Grading, enabling the Bank to use different strategies for collections allowing the Bank to handle unlimited number of each risk grade accounts. 8. Regulatory Provisions report to enhance compliance with 4. Customer payment promises reminder for timely follow up regulators. FOR MORE INFORMATION, & PARTNERSHIP:

is customer experience that features loan origination Improvement top of you automation capabilities, extending to controlling and monitoring Business priority ?entire loan processing, through automated data capture and Enable loan application, savings and recognition technology, to perform the following functions: guarantorship processing on the go for your members with NLS Mobile Banking Solutions USSD

WHY CHOOSE TERA MOBILE ?

1. Reduced cost on implementation, licensing and no revenue shared 2. Full proof security 3. Launch new products with minimal self service configuration 4. Interactive and easy to use administration marketing and reporting portal for member relationship management Want to automate your Debt collection Process?

scores to provide intelligence on a customer’s probability of loan default. Supports Multiple Loan Products: Tera CMS’s flexibility allows addition of any loan process workflows including Hire Purchase, Personal Loan, Education Loan, Mortgage, Emergency Loan, Salary Advance, Mobile loans etc. Reporting: MIS reports, loan

Be it working progress reports, drill down reports, workflow statistics reports to meet capital loans or cash unique requirements and provide end-user definable reporting. flow assistance, Document Management System: Allows scanning of paper there’s no question documents into the system once received and avails in electronic about the benefits form for sharing by all Tera CMS users. Documents displayed on the of automation in screen can be zoomed or scrolled for convenient viewing. the loan origination Interfaces with External systems: For purposes of credit checking, IPRS, process. CBS etc. Be it working capital loans or cash flow assistance, there’s no question about the benefits of automation in Laon Process Flow: Allows real- the loan origination process (LOP). time monitoring of each loan application, capturing all With the right lending automation applicant’s information such as software, you can win big in any bio data, collateral security income market. And NLS Tech Solutions is details, automatic document catering to your much larger fight upload and workload handling. to stay relevant, compete, and grow Most importantly, it facilitates even in the post pandemic-stricken integration of internal bank risk world. scoring as well external credit

About NLS NLS Tech Solutions is a Nairobi based, next-generation global technology company delivering holistic technology services across banking industry verticals, Micro finance institutions and Saccos in Kenya and beyond. NLS revolutionizes the world of technology with unique software solutions — on premise and cloud-native API led Integration, counter Fraud management systems, Credit Scoring engine, loan origination, Reconciliation and Omni-channel based applications — built on over a decade of innovation. To learn more about NLS, visit https://www.nlsbanking.com/ or follow @ https://www.linkedin.com/company/nls-banking/ on Linkedin.30 SACCO TIMES | JUNE - JULY 2022 TEL: +254-20-263 2768 | Email: sales@nlske.com