Solution Approach:
- Current state analytics on credit underwriting process and identifying dominant parameters which have a strong influence on the decision-making process
- Back testing of historical data and relative performance analysis of all those parameters and study its impact and influence on underwriting process
- Develop a multi-factor parametric equation by studying various dominant parameters of the process and defining them in to an implicit equation
- Designing banking and turnover surrogate policies
- Post finalization of parameters by relevant stakeholders, we start developing the algorithm on the platform as required by the client
- Once the product is developed, we do a rigorous pilot testing based on various test cases before going live
- Providing coaching, hand-holding, mentoring and on call training sessions with the users
Key Outcome and benefits:
- Reduced sanction TAT (by over 97%) from 3 / 4 days to 40 Mins for sanction/ rejection for cases up to half a million dollars
- A robust real time tracking mechanism which helps senior management monitor and track parameter performance, auto approved cases, auto reject cases, deviation approval tracking and monitoring rejects, load sharing, TAT, FTR etc.
