Insurance

Rock Solid Decision Making Process

About the Client
The client is one of the fastest growing non-banking financial companies in India. It offers an exhaustive suite of financial solutions such as Mortgages Loans, Vehicle Loans, SME Loans, Loans Against Investments, and Microfinance.

Client’s Pain Points
The client was looking to strengthen its KYC process within its core lending system and provide a common platform to other interacting systems. The client was looking to serve two purposes: Know the number of attempts an applicant made prior to the loan sanction; and then the overall exposure after the loan was sanctioned to the applicant.

Client was also facing several challenges with an earlier solution, which followed rudimentary matching rules (such as exact Name and Date Of Birth) in order to process the sheer volumes of data.

Neither pre-sanction nor post-sanction exposure to the applicant was known and the client was exposed to high risk.

Posidex Solution
Client opted for POSIDEX solution based on the industry feedback of the success of similar implementations. POSIDEX easily and seamlessly integrated PrimeMatch® based Data Management Solution into the existing core lending system of the company. Enabling client to fully integrate the work flow of credit sanctioning process and its requirement for De-dupe check at various stages. POSIDEX also provided new interface for other systems to interact with the core lending system meeting KYC requirements.

Results
POSIDEX solution enabled client:

  • Quickly generate and maintain the database of unique customers for
    its business requirements.
  • Enforce very complex matching rules
  • Manage the overall exposure by effectively screening applicants during pre sanction and post-sanction of the credit
  • Business users did not see any change in their user interfaces, but saw a qualitative dramatic change in the results of their existing Business Intelligence solutions

POSIDEX Group Exposure solution enable companies track their exposure to every single entity, build and trace relationships among entities based on personal relationships (spouse, parent, child etc.,); location (residence, office, businesses); employment details (co-worker, employer etc.); loan application details (co-applicant, guarantor etc.)