Empowering Financial Institutions with AI-Driven Loan Solution

By
INFOPRO

Traditional methods of loan onboarding are rife with struggles that make the process stressful and slow. Unfortunately, many financial service providers are still manually working with data that exists primarily on paper or in the spreadsheets of different loan officers and credit analysts. Aside from being time-consuming, manual and paper-based underwriting practices also lack consistency, auditability and accuracy.

This is a wake-up call for financial institutions (FI) to improve their workflow in order to keep up with the competition in today’s digitized world. Especially in the credit sector, banks should look into automating their loan management not only to increase customer satisfaction but also to boost ROI for their business.

Automation enables streamlining of disparate systems by providing reliable and consistent data flow for any stage of the loan origination process and accelerates the overall process while delivering solid audit and control benefits.

In today’s digital lending market, there are many software applications that serve the loan origination and credit assessment requirements of banks and non-banks. FIs must utilize the right tools to ensure significant impact on their underwriting standards, timely approval, cost, and the scale of any unpredicted losses.

Streamlining and automating the lending process can be achieved by integrating technologies such as microservices, APIs, machine learning and artificial intelligence (AI) into the existing legacy loan origination systems (LOS).

SYNERGi AI-Driven LOS

At INFOPRO, we strive to leverage on the latest technological advances to bring a higher value in delivering customized solutions for FIs and their customers. Our AI-driven SYNERGi Digital Loan solution provides a full spectrum of functions that ensures a more seamless, digital and efficient loan onboarding journey and processing.

The intelligence-infused LOS allows FIs to acquire customers more efficiently through intuitive applications and technologies such as Optical Character Recognition (OCR), eKYC and others for a truly digital application workflow. These channels are crucial for lenders to create a positive first impression by reducing the friction and stress in loans application, and thereby increasing customer satisfaction.

It supports a wide range of loan applications based on rich user-definable parameters, rules and workflow, and dynamic data modeling to drive the application processing from simple consumer loans such as personal loans, auto loan to more sophisticated commercial and corporate loan such as working capital, bridging loan and invoice or project loan.

SYNERGi’s flexible components enable FIs to design unique product policies, loan concepts and pricing, evaluation processes, reviews and approval requirements, and the data needs to meet the product and regulatory requirements.

Our comprehensive Digital Loans solution covers the full loans journey, from onboarding, Loan Origination System (LOS), Loans Management System (LMS), Debt Collection System (DCS), Loan Performance Analytics and Analytics and Reporting. The solution comes with built-in credit scoring (with the option to enhance with AI Credit Scoring), rules engine, workflow, and interfaces with credit bureaus and compliance bodies.

The SYNERGi LOS features a comprehensive credit scoring engine that defines assessment values based on financing appraisal policies. AI-powered Credit Scoring allows for a more accurate credit rating setup, as well as a fully automated evaluation process for maximum efficiency, making it possible for instant loan application approval!

INFOPRO uses AI techniques, combining data analytics and machine learning to enhance the FI’s credit appraisal quality, aiming to assist them in:

  • Preventing credit loss on potential loan applicants
  • Improving creditworthiness assessment quality
  • Enabling automation on credit appraisal assessment to enable instant loan approval.
  • Monitoring & mitigating the risk of existing loan turning into the default
  • Fully / semi-automate the credit approval process.

Besides conventional lending, the fully Shariah-compliant system also caters to Islamic financing, supporting Islamic concepts such as Bai Al Inah, Tawarruq, Dayn, Bai Al Salam, Bai Istisnaa, Ijarah, Murabahah, Ijarah Thumma Bai and many more.

To know more about how SYNERGi Digital Loan can help your business, visit https://www.infopro.com.my/digital-financing/ or click here to explore a more customized solution.

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INFOPRO Sdn Bhd

Block B3 Level 8, Leisure Commerce Square, No. 9, Jalan PJS 8/9, 46150 Petaling Jaya, Selangor

market@infopro.com.my
+60 (3) 7876 6666