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Loan documentation audit for a leading private bank in India

Customer Profile

Our client is a leading private bank that offers services like loans, savings accounts , fixed deposits, insurance, investments, wealth management, forex services & credit cards products. The bank has a strong branch network (576 branches, 541 ATMs).

Business Challenges
  • High branch errors (25%)
  • Limited ability to monitor executives & track utilization
  • Distributed process
  • Lack of standard of audit quality and timely dashboard closure

Solution

Error analysis & dashboards were enabled to identify high error zones & regions & reduce branch errors

Audits on disbursed file as per checklist; ran physical & scan-based audits & introduced internal process quality audit

Support in change management, transaction based billing & 2 days TAT maintained 

Benefits

Branch error rate reduced to 7% from 25% just within a year

Standardization of error remarks & training need identified for CREs

Maintained compliance with RBI norms and optimized cost 

10% cases on an avg.held back monthly due to non-completion allowing banks to save vendor cost