Digital Lending Platform: The only guide you’ll ever need(https://moba.finance/what-is-digital-lending-platform/)
New changes in rates, regulations, competitions, and new technologies all the more increase this pressure of digital lending. Banks need a new lending technology to rapidly adapt to market shifts and stay ahead of competitors.
Fortunately, a Digital Lending Platform can help banks address all those challenges.
What is Digital Lending Platform
A Digital Lending Platform automates the journey from application to disbursement for any lending product—be it mortgages, consumer loans, or deposit accounts.
With Digital Lending Platforms, banks can acquire and assess customers faster while enhancing back-office processes and reducing costs. It helps banks solve these challenges by delivering an all-in-one place to manage individual customers’ lending journey—from application, underwriting, to disbursement and collection.
In today’s everything-digital world, customers are so used to the seamless and intuitive shopping experience from Momo, Shopee, and Grab. They expect the same thing from lending. Customers demand the ability to apply for loans and are disbursed online via digital platforms, without having to visit the physical branch.
Below are some of the capabilities of a Digital Lending Platform:
Seamless customer experiences from application to collection
With the Digital Lending Platform, your potential lenders can use any device—be it the mobile phone, tablet, or desktop—to apply for loans and complete the follow-up tasks to receive the disbursement. The platform supports everything involved in the lending workflow, which involves connecting to their bank account, uploading documents, completing the eKYC process, providing e-signature, … All that is customizable to meet banks’ unique requirements.
Role-based tools for loan officers
A Digital Lending Platform provides each officer with a digital workspace to support lenders. The workspace typically includes interfaces for managing applications, communicating with customers online to complete follow-ups, providing settlement and closing services, and engaging with referral partners.
Automated verification and accuracy checks
By directly connecting to financial data sources, the digital lending platform helps banks eliminate the use of paper. It makes approvals faster and reduces fraud risk by integrating a wide range of eKYC solutions to verify customers’ identity, assets, employment, and income.
Data-driven workflows and automated decisioning
The Digital Lending Platform applies workflows that loan officers can customize themselves without having to write codes. The result is that manual, paper-based processes are reduced significantly. Also, it can automate requests for information, which provides underwriters with accurate and up-to-date loan files to finalize credit decisioning. In addition, the platform can automatically apply bank’s credit policies to unlock more efficiency
2. FINANCIAL SECTOR
• Professionally managed services and portfolios.
• Banking services is act as a backbone for an economy.
• Professional Advisory to individual and businesses which includes tax
consulting, risk consulting, etc.
• Wealth Management services like managing and investing funds in right
direction.
04
03
01
02 ALLIED COMPANY
• To understand the financial sector and how the organization
performs in it?
• To analysed the finance sector and to overcome of restriction
of delay decision making and setbacks from competitors.
COMPANY NAME- Stock Holding Corporation of India Ltd.
Ramesh NGS
CEO-
Why we chose this organization?
4. ROLES & RESPONSIBILITIES
STRATEGIC APEX
MIDDLE LINE SUPPORT
STAFF
TECHNO
STRUCTURE
OPERATING CORE
• Communicating on the behalf of the company with shareholders, government entities and the public.
• Strategizing the short-term and long-term goals
• Analyzing the organization’s financial strengths and weaknesses, and proposing corrective action
• Recruiting and Providing training to
new joiners
• Regular skill building training for
existing employees
• Handling employee relations,
payrolls and incentives
• It acts as a bridge between senior management
and operating core
• Supervising efficient work between operations
and sales department
• Improve product quality to stay relevant in the
market
• Implementing marketing campaigns to increase
brand awareness
• Value addition to the company by
solving queries of the existing customers
• Providing technical support to the
operating core.
• Making people aware about our products
through call or chat
• Driving the organizations sales and growth effort by acquiring new customers
• Creating potential clients, by building new contacts
• Managing day to day operations and processing account openings
5. Customer
25%
SEBI
10%
Government
15%
Employees
20%
Competitors
25%
Banks
5%
STAKEHOLDERS
STAKEHOLDER IMPACT ON ORGANIZATION
Customers
1 2 3 4 5
They are the primary source of business and income, to earn more
profit we will need more customers and their investment.
Banks
1 2 3 4 5
Banks are into selling the same products which can add up to the
competition. But they are new in this field and yet win consumer trust
to our extent.
Competitors
1 2 3 4 5
They sell the exact same products as ours and earn similar margins,
hence they can reduce our market share by attracting existing and new
customers.
SEBI
1 2 3 4 5
They are the regulatory body for our investments. While investing
customers money, we need to adhere to the SEBI guidelines.
Government
1 2 3 4 5
As the government is pushing for digitization, our online financial
solutions are in line their goals. The amount of taxes we and our
customers pay on our earnings is also subject to government policies.
Employees
1 2 3 4 5
Our output highly depends on our employees, the better the employees
work, higher will be our sales & efficiency as an organization.
7. ENVIRONMENTAL
ELEMENTS
There are only 4 vertical pillars in the structure of the organization which are direct work divisions that follow
the vertical level of reporting and operation. There is very less complexity regarding the operation of internal
functions as well as external factors such as customers, SEBI and the government.
Resources for our organization are employees and financial literacy among customers. In India we have enough
skilled workers to employ and also due to low financial literacy people approach us in good amount so there is
sufficient environmental richness hence low uncertainty.
Finchy’s vision and mission is to align with the economic and financial factors affecting the organization. The
services offered by us is strategically placed such that it can be flexed as and when the external factors tend to
disrupt the structure created. The business environment is highly dynamic, and changes are bound to happen very
frequently based on market requirements.
ENVIRONMENTAL DYNAMISM
ENVIRONMENTAL COMPLEXITY
ENVIRONMENTAL RICHNESS
8. BUSINESS LEVEL
STRATEGY
• Large number of our customers are catered using low cost strategy.
• The requirement of the customers is quick delivery of financial
services and thus the emphasis is more on low cost delivery than
innovation.
• We are into providing services, thus do not have the requirement
to come up with new products on a regular basis
LOW COST STRATEGY: FOCUSED LOW COST STRATEGY:
• We have a small part following focused low cost strategy.
• This strategy is used for HNI customers and corporate clients.
• The number of HNI (High net worth individuals) and corporate
clients is much lesser than the normal customers and their
requirements are also specific, thus they need personalised
solutions.
Low cost strategy is generally associated with the Mechanistic
structure and aptly fits our organisation
• Centralization– Finchy Financial services is a centralized organization with most of the decision-making powers lying with the strategic apex.
• Simple Integrating Mechanism– Simple and clearly defined hierarchy.
• Standardization– Employees follows rules and standard operating protocols(sops) for every procedure when it comes to the work process.
• Low differentiation– We have low differentiation as we do not require any differentiated product for a selected focused target group.
MECHANISTIC STRUCTURE
9. DIFFERENTIATION: In order to achieve its goals, organizations need to allot resources and people
and assign them with various roles and responsibilities which gives them authority.
DIFFERENTIATION
Any organization follows two types of differentiation strategies:
• Horizontal Differentiation: Groups are assigned on the basis of tasks.
• Vertical Differentiation: Grouping is done on the basis of authority.
• Simple organisation: Less number of employees. Coordination among different
employees is easy
• Large organisation: More number of employees. Require specialization and
thus the need for division. All activities between different divisions need to
be coordinated
10. V
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C
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D
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F
F
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E
N
T
I
A
T
I
O
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H O R I Z O N T A L D I F F E R E N T I A T I O N
ORGANIZATIONAL CHART
Board of Directors
CEO
CTO
CFO HR Officer
CMO
Accounting
Manager
Book Keeper
VP Marketing
Area Sales
Manager
VP
Operations
Payroll Training
Recruiters
Branch
Manager
Sales
Executive
Business
Development
Technical
Support
Customer
Support