Axis Finance is a wholly owned subsidiary of Axis Bank. It’s vision is to be the preferred financial solution provider for individuals and businesses alike by excelling in customer delivery through insights, empowered employees and smart use of technology
Initially Axis Finance focused on wholesale lending solutions to corporate customers across geographies. In 2018, Axis Finance decided to expand into the retail lending business to diversify its product and customer segment - starting first with Consumer Finance and then quickly expanding into secured and unsecured retail lending products
Leegality excel upload feature gives us the option to scale up operations via initiating the workflow for multiple customers simultaneously. We don’t have to trigger signing invitations one by one for each customer. Every half an hour we trigger the requests received from customer. Customers are more satisfied as they don’t have long wait times to receive documents for singing and can complete the overall execution process in a jiffy. Our internal ops team can now multi-task and manage things digitally rather than managing physical documents. They don’t have to do this activity of processing and sending documents for archival. This actually also improves their overall work-life balance!
One of the major reasons we chose Leegality was that it resolved logistics and expense management issues that we were facing with the physical stamping process. In a typical stamping process – we’d have to coordinate with the stamping vendor, ensure inventory is available, give them denominations etc. All of this requires a lot of effort at our end. Leegality’s stamping addressed this problem completely. Leegality has tie ups with vendors across all states Axis Finance operates in. Leegality also helped eliminate the process of physical procurement of stamp paper – resulting in easier expense management.
The success of any digital innovation can be measured in one simple way- howwell can a non-IT person connect with the system and work seamlessly. We feelthat Leegality platform scores full marks in this section.Currently, it’s being managed by the Operations department with minimalsupport required from the core IT support team. Setting up a workflow anddefining various parameters has been extremely simple. We didn’t face anymajor glitch at any point in time both before and after going live
The overall interaction with Leegality support and implementation teams wasvery smooth and satisfying. The team has always taken up responsibility toensure urgent requirements are met in a reasonable time period. Overall SupportTAT has been very encouraging. The way that the Leegality team takes theresponsibility and supports us in terms of removing the minor and majorobstacles is commendable.