2. What is Snap Loan
Snap loan is an end-to-end mobile loan origination system
with integrated analytical model and e-KYC that can be used as
delivered or tailor-made for your bank loan portfolio
eKYC : Using iris scan or fingerprint scan, borrower’s KYC
information can be obtained from Aadhar database and auto-
filled into the loan application. It is very authentic and makes
loan application process fast and efficient
Custom Score : Snap loan can work with or without CIBIL
score. The data gathered in the loan application can be used to
generate a custom score for fast assessment and quicker TAT. At
a fraction of cost to get CIBIL score.
3. How does it work
When customer walk-in branch, using iris scan or fingerprint scan borrower’s KYC information can be
obtained from Aadhar database and auto-filled into the loan application. Based on application data a
custom score gets generated to assess. All this makes loan processing fast and efficient.
.
Borrower inquires about loan. Loan officer sends SMS link through which borrower can check
out loan details like how much loan he can get, what will be his EMI. Then he can start
application process online, and then stop by nearest bank branch to finish the process.
4. Why Snap Loan
eKYC : Get mandatory KYC information in authentic and fast way, saving tremendous
processing costs. Not to mention giving fast service to customer.
Loss reduction : There is a model behind the app that gives loan recommendations to
accept or reject and that over a period of time can be refined to reduce loan losses.
Increased revenue : The application can be processed even where the bank may not
have branch. It can process applicants without CIBIL score by using custom score from
our internal model. Thus more loan applications can be processed for increased
revenue.
Reduced costs : Tremendous cost reduction compared to a manual process. Upto
80% cost savings can be realised. So for a bank that processes 2000 loan applications,
that can be upto 4 lakhs/month of cost savings.
More Profit : From all of the above i.e. more revenue, less cost and lower loss
translates into more profit. And that is on a recurring basis, month after month and year
after year.
.
5. More details
Please give us an appointment.
We will come and give a demo.
Email rayudu@analyticapps.in
Ph : +919573653969
www.analyticapps.in