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FICCL : Enabling LOS process
Tuesday, June 03, 2008
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, as the company could foresee, would effectively address the
customer needs locally and, at the same time, would help branches abide by 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.
This is one-of-its kind project in India. FICCL is growing at a rapid speed
and has so far opened more than 750 branches across the country in a short span
of around 18 months of its roll out. FICCL also has further plans to continue
opening new branches at such a pace.
The project enabled FICCL to automate and centralize its processes for
efficiently managing the processes while continuing to extend the solution to
newer branches. Bringing additional branches under the ambit of the solution,
while ensuring performance of the system and that too under highly squeezed
timelines is one of the major accomplishments of the project. The system is also
capable of handling new business requirements, financial products and scheme
launches in an agile and efficient manner.
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P.
Krishnamurthy
Executive VP Technology |
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