Consumer Finance Company

Posidex Technologies help a leading Consumer Finance Company to strengthen its credit decision making process.

About the Client

Our client is one of the fastest growing non-banking financial companies that is also part of the one of the India’s largest corporate houses. 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 Know Your Customer (KYC) process within its core lending system and provide a common platform to other interacting systems. The client was looking for two purposes related to loan sanction. It wanted to know the number of attempts an applicant made prior to the loan sanction and the overall exposure after the loan sanction to the applicant. However, the client was facing several challenges with earlier solution that was using only 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 Technologies’ Solution

The client chose Posidex Technologies based on the industry feedback of the success stories of similar implementations. Posidex Technologies easily and seamlessly integrated its PrimeMatch® based Data Management Solution into the existing core lending system of the company. The integration fully enables the work flow of the credit sanctioning process and its requirement of dedupe check at various stages. Posidex Technologies provided new interface for other systems to interact with the core lending system meeting KYC requirements.

Results

With the help of Posidex Technologies’ solution, the client could

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

    Further, our Group Exposure solution will help companies track the expo-sure to every single entity, build and trace relationships among entities based on personal relationships (spouse, parent, child etc.,), location (residence, office), businesses, employment details (coworker, employer etc.) loan application details (co-applicant, guarantor etc.).