The Business Bytes
TBB BUREAU
BHUBANESWAR, JANUARY 19, 2021
Dvara KGFS, a leading technology backed NBFC in India, has launched a new innovative feature – e-signature – which enables hassle free documentation to access loans while ensuring pandemic related safety protocols.
Bringing about a paradigm shift the way customers apply for loans, KGFS Assist (Front end app built by KGFS in-house technology team) has introduced E-signatures enabling complete ease in applying and processing of loans from the convenience of their homes and from their own hand-held device thereby eliminating the cumbersome process of fixing signatures, uploading documents on ERP, etc. which required extensive manual interventions.
Once the loan documents are approved and uploaded, the branch staff approaches the customer for signatures which is done on a mobile phone/tablet after a 2-step authentication – Mobile OTP and Mobile Signatures. The same signatures are then automatically affixed on the document at respective places. The documents now get stored in the ERP system. However, some legal documents require actual signatures.
“With deep understanding of the market, we have been able to reduce the turnaround time (TAT) substantially to four days and to two days. This has resulted in easing of the loan disbursement and enrolment process and resulting in more people benefitting as well as setting new benchmarks in our internal process,” said Murty LVLN, Deputy CEO, Dvara KGFS.
Speaking about the new initiative, Dvara KGFS CEO Joby C O said, “This new e-signature feature has helped in maintaining records of all loan documents in soft format, eliminating the need to store the physical documents thereby ensuring safety and security thus delivering superior customer experience.”
