Fundamentum - Enabling your business

FAIS Branch - Case Study

Company A has 60 branch-based loan brokers dispersed around the country serving loans direct to the public. Compare the two processes below.

Old Process	FAIS Process
Applicant requests a loan: the branch assistant completes, by hand, a pre-printed pre-agreement information sheet with the customers name and address.	Applicant requests a loan: the branch assistant completes an electronic application form with the customers name, DoB and Postcode on screen. A pre-agreement is printed for the customer to read while, simultaneously, the data is automatically verfied against current customers and bad debtors. The agreement is approved.
The branch assistant then also completes a full hand written application form for customer signature.	The Operator enters the remaining customer information, the data is validated for accuracy on entry, and the application is submitted directly to the loan administration system at head office.
The signed agreement is faxed to head office for processing.	The agreement is printed for customer signature and the funds are released.
Head office call the branch to clarify details such as post code, telephone number and salary as writing is unclear.
Head office administrator keys application data in to loan administration system.
Head office call the branch to confirm agreement approval.
Funds released.

It is easy to see how using FAIS reduces cost and increases profit by not only enabling your workforce to achieve more but by reducing the opportunity for defects and errors to occur.

Also in this section: