The Challenge: Onboarding Process Delays
The client faced significant challenges in expanding their personal loan business, primarily due to the lack of structured lead generation efforts from their channel partners. Despite having a robust network of partner agents, the institution struggled to generate a steady pipeline of leads, hampering business growth. Without a streamlined method for attracting and nurturing potential customers, converting leads into borrowers remained an uphill battle.
Moreover, the onboarding process was cumbersome and time-consuming, hindering the ability to quickly onboard new customers. The institution also faced challenges in efficiently managing loan referral incentives for channel partners, leading to delays in disbursements and dissatisfaction among agents. These inefficiencies were particularly challenging for the CIO, who was responsible for driving technological solutions to enhance operations, and the CFO, who needed to ensure that operational inefficiencies did not erode the financial stability of the organization.
The need for a comprehensive solution that could not only boost demand generation for personal loans but also simplify customer onboarding and automate referral incentive disbursements became urgent to achieve sustained growth and maintain competitiveness in the market.
