Fullerton India Credit Company Limited : BPM enabling Loan-related process

This project has helped this new retail entrant in automating and centralizing its processes, enabling it to add more branches rapidly

Tuesday, May 06, 2008

Being a recent entrant in the retail-lending segment, Fullerton India Credit Company Limited (FICCL) planned for rapid rollout of branch networks to reach a large customer base. The key focus behind conceptualization of this project was that FICCL wanted to make every branch an independent profit center complemented by centralized operations and policy governance. This, the company imagined, would effectively address the customer needs locally and, at the same time, help branches abide to the centralized policy guidelines and operations.

The deployment of this project essentially automates the entire Loan Origination System (LOS), which takes care of all loan processing activities e.g. Application Data Entry, Credit Verifications, Credit Approval, booking of loan as well as post-booking application and document tracking. The company is trying to resolve challenges such as achieving profit-oriented branches, reducing turn-around-times, lowering cost of operations and improving customer experience by the deployment of this project. As a future growth of this project, FICCL has a target of reaching 1000 (currently around 750 branches) branches by 2009 and integrating all those branches with this BPM system.

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