Coforge SMB Assistance Loans

The impact of COVID-19 is a good example of why we need small- and medium-sized business (SMB) assistance loans. With governments around the world announcing new relief loans and schemes on a weekly basis, lenders are inundated with thousands of loan requests. These situations mandate the need for smart and agile loan origination systems that can adapt to change and cater to high volumes, in real time.

This solution provides the right foundation to configure/deploy processes in highly agile business environments - all while ensuing it is delivered in a timely manner.

It equips lenders to gain immediate burst capacity and customer trust by processing loans with high accuracy, while adhering to necessary federal regulations. Additionally, it enables them to fast-track SMB loan applications by ~50%, reduce manual errors by ~30%, and mitigate credit risk by ~30%, all while ensuring 100% transparency.

• Digitized SMB loan forms compliant to Federal regulations
• Web mashup for loan application entry
• Native mobile app for unified user experience
• DocuSign integration to collect digital signatures
• ABBYY FineReader-based OCR with enabled KYC for data extraction
• Built-in loan amount/forgiveness calculators
• Credit risk assessment using predictive modelling based on financial parameters
• Third-party integration for loan disbursal
• Dashboard reports and email-based notifications