The challenges continue to mount, so banks need to constantly evaluate and improve their strategies. In order to stay competitive or relevant in any capacity, banks must invest heavily in strategic lending solutions that are designed for the modern age, says Sundar Garg, President and CEO, SysArc Infomatix, in conversation with Elets News Network (ENN).
How significant are lending solutions for the banking sector in today’s era?
Sundar Garg, President and CEO, SysArc Infomatix
The major challenge that a bank faces today is its ability to adapt to the modern ways of lending that offer quick decisions that customers look for. More avenues have opened up for customers to get loans that include lending portals, marketplaces, direct solicitations and the like. Customers let their “fingers do the walking” on their mobile gadgets to get loan offers from traditional and non-conventional lenders. Money is available quickly and without hassles. In short, customers have choices. To stay competitive in this modern era, a banker should be able to shun the legacy business practices and stay nimble while not losing focus on reduced lending risks, greater management control, reduced lending costs and keep a personal touch with the customer.
The challenges continue to mount, so banks need to constantly evaluate and improve their strategies. In order to stay competitive or relevant in any capacity, banks must invest heavily in strategic lending solutions that are designed for the modern age. Not only does this enable lenders to underwrite higher quality loans, it also enhances quick sanctioning of credit to end customers. We have been able to transform lending operations for over 75 percent of major financial institutions in India and we look forward to becoming a value-partner to all lenders across the globe.
Give us an overview of your lending solutions. How are they different from other competitors in the market?
What makes our solution different from our competitors:
- End to End lending system which includes, Loan Origination, Loan Management, Risk management, Loan processing, Loan Disbursement with Core banking Interface and the key areas of Post Sanction and Post disbursement activities.
- Apart from the activities mentioned above our system LEND perfect fulfils the most crucial part in banking after the loan sanctioned which is the Credit Monitoring, Early warning signals as directed by the Reserve Bank of India and the last phase in digital lending which is the management of NPA’s.
- We believe that providing a solution to manage lead generation and the entire loan lifecycle by monitoring and warning them with alerts on possible NPA’s is the most crucial part in this entire process. Therefore, we are the most sought-after lending solution provider in the market.
Apart from this, the USP of our system is that it can be integrated with multiple systems such as Core Banking (we have interfaced with three Leading core banking providers), Credit Bureaus (all 4 credit bureau agencies have been interfaced with our system), external API’s such as rating agencies, government portals, third party agencies and with analytical tools. These unique features lift us a step higher than any of our competitors in the industry.
We have an end to end lending solutions as a complete suite to fulfill the requirements of the bank.
- Mobile Apps for Lead Capturing/CRM
- Mobile Apps for Retail, AGRI & MSME – Detailed Data Entry
- Retail Lending Solutions
- MSME Lending Solutions
- Agriculture Lending Solutions(All products under NABARD)
- Corporate Lending Solutions
- Loan Management System (Post sanction modification, Deferral Module)
- Monitoring System with EWS
- NPA
- NPA provisioning
- Collections
- CCPS(Credit Card Processing System)
- SAFE (Deposit locker/Rent collection)
We are the only service provider in India to have a comprehensive lending solution specifically designed for processing Agri and MSME (PSL) loans.
We came across your locker management tool that functions digitally. Kindly tell us about this revolutionary product.
SAFE is a simple, easy to use, digital locker management solution that enables ‘Locker Facility’ providers (Banks or other institutions) to gain complete control over the process and function. Properly managed (through a competent solution), ‘Locker Facility’ unlocks a new revenue stream that is recurring by nature. Furthermore, the USPs of a comprehensive solution becomes the value-proposition you provide for your customers. SAFE is a simple, easy to use, digital locker management solution that enables ‘Locker Facility’ providers (Banks or other institutions) to gain complete control over the process and function. With a dynamic dashboard, our customers have complete control over their locker process generating multiple reports to assess the business growth. Our system enables biometric locker access which helps to track and monitor locker activity for enhancing locker security and help calculating locker access charges. SAFE can also be integrated with secure self-service kiosks, where the parcel can be pick up a parcel/courier at a time and place convenient for him. It comes with the inbuilt API’s to have this facility fulfilled.
One of our clients who is using the SAFE module is auto collecting the annual rentals using a specialized Auto STP process where in the rental charges of almost 6 Lakh lockers can be collected in a span of 6 to 8 hours. Unlike earlier where it used to take them 30 to 45 days. Properly managed (through a competent solution), ‘Locker Facility’ unlocks a new revenue stream that is recurring by nature. Furthermore, the USPs of a comprehensive solution becomes the value-proposition you provide for your customers.
Asset management holds a very important place in the BFSI sector. What services do you offer to streamline this particular segment?
PEPS is an asset management system which provides gamut of solutions for premises and equipment management. It helps the management to overcome the burden and demanding obligation in complete maintenance of their premises and other fixed assets. PEPS (Premises and Estate Processing System) configuration is so compatible that it can be tailor made to suit any unique business environment.
PEPSmanages all critical information about a bank’s premises, estates and the staff involved in the operations. PEPS is a highly configurable software that can be readily tailored to suit any unique business environment.
Our Key Features:
- Monitors automatic depreciation of asset values
- Inward and Outward Mails
- Configuration of timely reminders
- Managing of complete details in a work premises
- Generation of Reports on the premise’s details
- Management of the premises tax and other payment details
- Centralizes all data, providing the ability to track, utilize, and share information
- Strong room and custodian management
Would you like to share anything about your future innovations, planned for the Non-banking Financial Companies?
By December, we are releasing our new product CONNECTperfect which is an API platform that allows lenders and other authorized authorities to access a variety of APIs that cover services ranging from Aadhar, E-KYC all the way to OCR. Users can call these services into any in-house application through an intuitive user-interface. We are also trying to incorporate AI based framework in our product to help clients manage potential delinquencies at the earliest stage leveraging behavioural, social and financial data.
