IDBI Bank Rolls Out Fully Digitised Automated Loan Processing System for MSME and Agri Yields

IDBI Bank Limited has introduced a fully digitised, end-to-end, Loan Processing System (LPS) for its MSME and Agricultural products.

The loan processing system flawlessly integrates with data fin techs, bureau validations, document storage/retrieval, account opening/management, customer notifications, and portfolio management capabilities along with embodied policy/knock off parameters. IDBI Bank Allows Video based Customer Identification.

These features of the fully digitised and automated loan processing system are aimed at providing a superior tech-enabled banking experience to bank's MSME & Agri. customers, an official statement said.

The platform is designed to incorporate knockoff criteria & credit policy parameters for superior underwriting standards, the statement added.

"LPS would carry a total of more than 50 product lines and would offer seamless credit life-cycle with over 35 interface touch points to many satellite systems. The LPS integrates with the existing core database, human resource management system, and various other applications of the Bank. This utility would considerably enhance the customer experience with improved turn-around time," stated Suresh Khatanhar, Deputy Managing Director, IDBI Bank.