Case Study

Digital Transformation for DevKripa Finserve

Vected Tech partnered with DK Finserve to revolutionize their lending processes through digital transformation. Our goal was to enhance customer experience, streamline operations, and ensure compliance across all stages of the lending cycle.

Challenges

• Inefficient and time-consuming manual processes for onboarding and loan disbursement.
• Compliance issues with KYC and approval processes.
• High turnaround times leading to customer dissatisfaction.
• Lack of integrated recovery solutions.

Solutions

• Developed a user-friendly mobile app allowing customers to initiate loan applications seamlessly.
• Integrated AI-driven data validation tools to reduce errors and speed up the onboarding process.
• Implemented advanced OCR and biometric verification technologies to automate and secure the KYC process.
• Ensured regulatory compliance with automated checks and balances.
• Developed a custom decision engine that leverages machine learning to assess risk and make quicker loan approval decisions.
• Enabled instant loan disbursement upon approval through integration with multiple banking systems.
• Provided customers with multiple disbursement options to enhance convenience.
• Deployed a smart collections platform that uses predictive analytics to prioritize and automate recovery efforts.
• Integrated communication tools to maintain consistent contact with borrowers and improve recovery rates.