Industry

NBFC

Use Case

DSA Onboarding Docs
Personal Loan Documentation
Business Loan Documentation

“Leegality has been a game changer for our frontend Sales Team. We have got a lot of appreciation and acknowledgement about how seamless life has become for them after Leegality”
Dhairya Shah
Head of Projects @ Axis Finance
Axis Finance is a wholly owned direct subsidiary of Axis Bank.
It offers a wide variety of loan products for individuals and businesses alike.

Axis seeks to differentiate itself from a highly competitive market by offering unique customer-centric loan journeys with
a continuous focus on digital transformation and operating on a strategic branch led model with lean structures flow.

The Paper Challenge

Before Axis Finance can disburse a loan, it needs to get a lot of paperwork signed by the borrower.

However doing this physically was an intense logistical exercise that caused challenges for Axis Finance:
  • High turn-around times for paperwork
  • Collecting physical signatures from customers was a logistical nightmare for their ops team
  • Physical Stamp procurement and reconciliation required a lot of effort
  • Inventory Management during and after document execution resulted in added costs
  • Hard for their sales team to reach customers due to the pandemic
“The overall process was very cumbersome and it used to take 3 to 5 days to get just one agreement executed”
Dhairya Shah
Head of Projects @ Axis Finance

Solution

Axis Finance worked with Leegality to build 100% digital workflows for their loan and DSA onboarding paperwork.

Axis Finance developed a unique Leegality Workflow:

1. Every 30 minutes, Axis Finance Ops team populates and stamps multiple loan agreements simultaneously with minimal manual effort using Leegality’s Excel Upload Feature

2. Customers and DSAs receive pre-filled loan agreements to their phone via  SMS/Email - eliminating the problem of “blank form signing”

3. Customers and DSAs can eSign the paperwork in less than a minute from anywhere and anytime

4. Customers/DSAs and Axis Finance receive the final agreements within 15 seconds of signing

5. Agreement Kits and Audit Trail are securely stored instantly on Axis Finance’s servers - and easily retrievable through Axis’ LOS
“Through this process, our TAT on disbursement has reduced by almost 60% with a fully paperless journey”
Dhairya Shah
Head of Projects @ Axis Finance

Business Impact

Agreements are executed in minutes rather than days
Warehousing and Transport Costs, risk of damage are eliminated completely
No more physical stamp paper procurement hassles
Dramatically improved customer/DSA satisfaction
Productivity and work-life balance of their sales and ops teams have improved significantly

Don’t take our word for it -
read our full interview with Axis Finance’s Head of Projects

Read our full Axis Finance Case Study

In this case study, we speak to Axis Finance's Head of Projects about:

  • Detailed visualisations of Axis Finance’s workflows Before and After Leegality
  • How Axis Finance is using specific Leegality Features
  • How digital document execution has transformed the customer experience
  • Axis Finance’s experience with Leegality’s support and implementation team

Other Case Studies

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