Accelerated Business Growth with Digitalized Core Lending process
ECOMARK General Finance & Leasing Ltd is a non-banking financial company that aims to generate wealth legally and ethically by ensuring utmost customer satisfaction. Established in the year 1997 in Thrissur, they are licensed for Hire Purchase Loans - Two Wheeler, Three Wheeler, Car Loans, Industrial Equipment Loan, Gold Loan and Business Loan. With 2 branches and over 5000 customers, it is popular among the masses for their customer service quality.
By the end of 2019, the company aims to expand their services to new locations and expects to increase their customers by 10 times the current customer base.
Ecomark wanted to digitize and automate their lending processes with an advanced solution platform that would provide a unique customer experience, improve business agility and increase the prospect to conversion rate.
With the existing solution, the company has faced several constraints such as limited automated services, traditional methods and slow processing of loan application, lack of detailed reports on various segments.
Ecomark was keen to implement an advanced streamlined Core Lending management capabilities, benefiting from Sesame’s two decades of domain expertise. The solution is browser-based, centralized core lending application that automates the entire loan lifecycle, generates detailed reports, and enables real-time processing of key financial transactions eliminating redundant interfaces. The mobility solution enables the users to quickly onboard customers, issue loans can be readily issued upon verification of the credit – worthiness and loan eligibility criteria, and collect installments from the customers.
With a strategic approach in deployment and project management, the solution was implemented in all branches of Ecomark within 2 months.
The results delivered within one month after the solution went online was remarkable: