Loan processing time reduced from 4 hours to 30 minutes.
The client is a global financial institution operating a centralized Loan Processing Unit that received new loan applications collected across various bank branches and sales channels. The team was responsible for verifying documents, determining applicant eligibility, and sourcing data from third-party providers before sanctioning, requesting additional documentation, or rejecting each loan.
Because the processing team operated centrally, significant back and forth with the sales channel led to delays and inconsistent updates for loan applicants. High transaction volumes at month end further required the processing team to work overtime to meet monthly targets.
We deployed Aiwozo DocuBot, our Intelligent Document Processing (IDP) platform, to automate the loan processing workflow end-to-end.
Extraction agents used Aiwozo DocuBot to pull information directly from submitted documents and update the loan processing system automatically.
Validation agents performed an auto check on each loan file for completeness, automatically reaching out to the sales channel to request any pending documents from the customer.
Processing agents initiated and collated third party information, including credit checks and collateral valuations, once a file was confirmed complete.
Notification agents pushed regular status updates to both the sales channel and the applicant throughout the process, minimizing the need for manual follow ups.
Key business and operational challenges that limited performance, scalability, and governance before automation was introduced.
