Time taken to disburse personal loan for a large multinational bank was 16 days which was very high in comparison to its competitors due to which bank was losing market share.
Reduce loan disbursement time to 6 days from 16 days.
Created rule-based credit policies which made the decision-making process faster for credit time. Designed fast track application process for top up loans within certain risk parameters. Increased amounts that frontline decision makers can approve.
Also, eliminated duplication for central ops unit using visual dashboards and assigning sub processes TATs to every region.
The outcome was reduction of disbursement time to 6 days from 16 days for 80% of cases.