MSME-focused NBFC cut loan TAT ~40% & identified 5 new products for cross-sell
06 May 2020
1 min read
We helped an NBFC client to identify additional loan products to scale up their business. We leveraged our benchmarking abilities to understand best practices for loan and sourcing processes in the industry. Our recommendations helped our client to widen its product portfolio with 5 additional loan products; further, reduced the TAT for the loan process by ~40%
Context
- Client description: MSME focused on NBFC client
- Opportunity: The client desired to identify opportunities for additional loan products to cross-sell along with the core products. Further, the client wanted to improve the overall loan process and sourcing process leading to a better sales productivity
Our Approach
- Conducted benchmarking exercise to understand product features provided by competitors
- Understand the current loan process of NBFC by analyzing loan files and arrive at gaps in the current loan process
- Identified best practices followed across competitors in the industry by benchmarking TAT and loan process across competitors
- Conducted shadow follow sales representative method to arrive at gaps in the sourcing process
- Further, conducted workshops for sales executives on sales productivity improvement