Due to the large volume of transactions that have to be processed the Financial Services Industry is rapidly moving towards a robotic process for credit approvals and disbursals, Humans get involved only when exceptions have to be resolved otherwise it is pretty much automatic and un-attended.
AnyBank - CARE - The swiss army knife for managing external agencies like Call Centres, Field Investigators and Collection Agents
Managing external agencies can be overwhelming at times. The sheer attributes that govern their services can be daunting for a Bank or NBFC's to set up an application that can handle these parameters. Consider this, any medium side bank or NBFC will have
Handling the volume of documents during the lifetime of a loan contract can be overwhelming especially when the loan portofolio runs into millions of contracts.
If you levy an overdue finance charge on Monthly instalments that are not paid in time by the borrower then you can do it in either of the following ways
The process of underwriting loans especially those of unsecured products can be excruciating.