Financial Services
Assessing cross-selling opportunities for NBFCs
08 Apr 2020
  • Client Description: MSME-focused NBFC player
  • Opportunity: The client was looking for solutions to improve and optimize its existing loan process and capitalize on key cross-selling opportunities
Further, the client also wants to understand the following
  • Opportunities for additional loan products, to cross-sell along with the core product
  • Scope and steps to improve the overall loan process, especially TAT 
  • Gaps in current sourcing process and opportunities to improve the sourcing process and enhance sales force productivity

Our Approach

The approach was divided into 3 sections:

Market Benchmarking
  • Analyzed and compared product features (interest rate, processing fee, tenor, LTV, etc.) across key competitors

Assessment of the loan process
  • Mapped the client’s existing loan process by analyzing loan files to identify gaps and potential improvement areas
  • Benchmarked TAT and loan process across competitors to identify best practices

Assessment of sourcing process
  • Evaluated the existing sourcing process by shadowing sales representatives to identify key gaps
  • Benchmarked sales targets across competitors along with different types of training provided
  • Conducted workshops for sales executives to launch sales productivity improvement initiatives 

Key Insights / Outcomes

Provided client with deep insights to highlight gaps in current sourcing process and suggest improvement areas

Designed a roadmap for improving loan TAT and boosting sales productivity

Praxis Value Delivered
  • The loan application process was crashed by approximately 5 days by digitizing and automating key steps and improving sales team effectiveness 
  • Identified top 3 cross-sell opportunities 
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