The demand for e-rickshaw loan in India is rising due to their eco-friendly and affordable nature. Craft Silicon offers a streamlined solution for E-rickshaw financing with a fast approval process.
- Multi-Platform Accessibility: Users can easily manage their E-rickshaw loans through both mobile and web applications, allowing flexibility and convenience whether they are on the go or at home.
- User-Friendly Experience: The platform simplifies the entire loan process, catering to both new and existing customers with streamlined loan journeys, from application to repayment.
- Trusted Partner: With a proven track record of delivering reliable financial solutions, Craft Silicon Nimble has earned the trust of customers and institutions alike.
Craft Silicon Nimble stands out for its user-centric approach, offering a seamless and accessible platform for managing E-rickshaw loans:
- Multi-Platform Accessibility: Users can easily manage their E-rickshaw loans through both mobile and web applications, allowing flexibility and convenience whether they are on the go or at home.
- User-Friendly Experience: The platform simplifies the entire loan process, catering to both new and existing customers with streamlined loan journeys, from application to repayment.
- Trusted Partner: With a proven track record of delivering reliable financial solutions, Craft Silicon Nimble has earned the trust of customers and institutions alike.
The primary goal of Nimble Vehicle Loan Origination is to assess the applicant’s creditworthiness and process the loan approval efficiently, ensuring a seamless experience for both the borrower and the financial institution. Some of Nimble E-rickshaw Loan Origination features are as follows:
- E-KYC Verification: Quick verification through Aadhaar, PAN, and Voter ID for applicants, co-applicants, and guarantors.
- Flexible Workflow Configuration: Customizable workflows to suit diverse business needs.
- Credit Bureau Integration: Seamless access to credit reports for efficient loan approvals.
- Business Rule Engine: Configurable rules for approval matrices, handling both small and large loans.
- Credit Underwriting Matrix: Structured multi-level approvals for due diligence and risk management.
Branch-Based Loan Initiation for vehicle loans begins with the customer’s application at the branch. Key steps include:
- Loan Application Initiation – Customer details are collected, followed by a Credit Bureau (CB) check and KYC verification.
- Televerification – A call is made to confirm the customer’s information.
- Field Investigation – An agent visits the customer’s location to verify submitted details.
- Loan Sanction – After successful verification, the loan is sanctioned and a sanction letter is issued.
- Loan Confirmation – Final review and verification complete the loan initiation process.
Dealer-Based Loan Initiation for vehicle loans involves a process that transitions between a mobile app and a web platform. The steps for the same are as follows:
- Loan Initiation – Dealer enters customer and vehicle details via the mobile app.
- Televerification (TVR) – Verification is done through a web-based call.
- Field Investigation – Customer and vehicle details are verified on-site using the mobile app with geo tagging.
- Loan Sanction Approval – Approval is processed on the web platform after reviewing all data.
- Pre-Disbursement Check – A final check is done via the mobile app before disbursement.
- Vehicle Delivery Confirmation: Capture delivery documents (insurance, invoice, photos) and integrate with the Vaahan database for accurate vehicle information
- Post-Disbursement Check – Web-based verification ensures post-disbursement compliance.
The process alternates between the mobile app and web platform to leverage the strengths of each: the mobile app is used for on-the-go data entry and fieldwork, while the web platform handles more complex verification and approval tasks.
The Nimble E-rickshaw Loan Origination System also includes features like used vehicle valuation, enabling the assessment of vehicle value based on service history, accident records, and market trends.
Craft Silicon’s Nimble Vehicle Loan solution offers a comprehensive, flexible, and efficient solution for E-rickshaw financing, empowering financial institutions with streamlined processes and personalized support.
Author: Sachin S. | Associate Business Analyst
Sachin is an Associate Business Analyst at Craft Silicon, with two years of experience in the company. He specializes in financial technology integration and is dedicated to enhancing financial inclusion and operational efficiency through innovative solutions in the banking sector. At Craft Silicon, Sachin works in new product development, focusing on lending and banking solutions.
