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The Loan Processing System (LPS) for MSME and Agri products seamlessly integrate with data fintech, bureau validations, document storage, account management, and customer notifications among others, IDBI Bank said in a statement.
IDBI Bank on Wednesday announced the launch of its fully digitized loan processing system, offering over 50 products to MSME and therefore the agriculture sector.
The Loan Processing System (LPS) for MSME and Agri products seamlessly integrate with data fintech, bureau validations, document storage, account management, and customer notifications among others, IDBI Bank said during a release.
These features of the fully digitized and automatic loan processing system are further aimed toward providing a superior tech-enabled banking experience to the bank's MSME and Agri customers, it said.
"LPS would carry a complete of quite 50 product lines and would offer a seamless credit lifecycle with over 35 interface touchpoints to several satellite systems," Suresh Khatanhar, Deputy director, IDBI Bank said.
He said the LPS integrates with the prevailing core database, human resource management system, and various other applications of the bank. This utility would considerably enhance the customer experience with improved turn-around time, Khatanhar said.