Processing of financial
assistance requests in lending

COVID-19 Challenge

Due to crisis, government/institutions have released schemes to mitigate customer distress. Banks are required to accommodate requests arising due to it.

Based on respective country/region guideline, retail and corporate customer can reach out to banks for:

  • Deferral of EMI payments for 3/6 months (Mortgages, Education Loans, Business Loans)
  • Reduction in interest rates or Loan restructuring
  • Fast Loans processing (For corporates from impacted industries)

These requests are out of the planned capacity for BFS institutions. While adding to the processing effort, in most cases these requests must be accommodated in short to medium term.

Solution

EMI deferrals and rate reduction requests |Unattended Bots

  • Fresh documentary verification is not essential,
  • Check for customer profile and historical behavior
  • Make required system entries and complete request

Loan restructuring or Fast Loan processing |Attended and unattended Bots

  • For existing customers, low documentation requirements
  • Mix of attended and unattended bots
  • Initiate automation with low complexity
  • Steps in the journey

Benefits

Ensure business
continuity during
transactions influx

Customer retention/
satisfaction

Effort reduction

Scenarios covered:
80 – 100%

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