Mega Bank joins hands with SB Solutions

MEGA Bank Ltd. has implemented and has gone live with the Credit-X (Loan Automation System) to automate and digitize processes like Online Loan Eligibility, Online Loan Application, 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 Pvt. Ltd. Amit Shrestha, Chief Business Officer of MEGA Bank Ltd and Bipul Dhakal, Chairman of S.B Solutions 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 able to mitigate the credit risks associated with loan clients by monitoring of risk parameters within the system and help bank to process the loan quickly. The System is also capable to process the Collateral and Non-Collateral Base Loan within the system . Loan Automation System is built on internal ratings based approach as per the international standards. Along with 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 of more than 50% reduction in turnaround time of the loan processing and approval process. Additionally, bank is also introducing Online Loan Eligibility service built by SB Solutions, which will enable the customers to avail the Online Loan Eligibility Check and even apply for any loan product through online portal offered by the bank. MEGA Bank Ltd received the