KATHMANDU: Progressive Finance Ltd. has implemented and has gone live with the Credit-X (Loan Automation System) to automate and digitize processes like Internal Loan Workflow, Risk Assessment, Credit Documentation and Approval of loan including post-approval documentation like offer letter and loan deed in partnered with S.B Solutions an associate company of DigiHub Pvt. Ltd.
Bishal Humagain, Chief Executive Officer of Progressive Finance Ltd, and Sanjog Mishra, Chief Executive Officer of S.B Solutions Pvt. Ltd signed the agreement on behalf of their respective organizations.
With the introduction of the Credit-X (Loan Automation System), banks will not only be able to replace the paper-dependent loan workflow entirely but will also be able to mitigate the credit risks associated with loan clients by monitoring risk parameters within the system and help banks to process the loan quickly.
The System is also capable to process the Collateral and Non-Collateral Base loans within the systems. Loan Automation System is built on an internal ratings-based approach as per international standards.
Along with an objective assessment of a client which is primarily system-driven, and is standardization of subjective parameters as well.
With this new system implementation, bank and end consumers can get benefits with an estimated more than 50% reduction in turnaround time of the loan processing and approval process.
Progressive Finance Ltd received the operating license from Nepal Rastra Bank to function as a “C” Class Finance Company. It has achieved the triumph to establish itself as a Strong & Reliable Finance in Nepal.
Progressive Finance Ltd has a customer base of around 1+ Lakh and has 15+ Branches spread all over the country.
S.B Solutions Pvt. Ltd has been recently Associated with DigiHub Pvt. Ltd to work in the area of Fintech and Lending Digitization & Automation of banking products and processes with a wide selection of products like APIMS, One Link, Credit Automation as Credit-X, Online Loan Eligibility, Insta Loan, Payday Loan, and so on.
Currently, more than 40+ Financials institutes and corporate houses have been using the systems built by S.B Solutions and its associate company DigiHub Umbrella Group.
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