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How South Indian Bank slashed home loan documentation TAT to mere minutes through digital paperwork

The story of how and why SIB decided to completely digitise their home loan documentation with Leegality

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Abey Abraham - SIB

[The new digital process] gives us speed, reduces manpower, increases productivity and improves customer satisfaction as she knows what she is agreeing to while sitting at home and getting it done.”

Abey Abraham
Head - Housing Loan & Mortgages, SIB
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The benefits that SIB has derived by digitising home loan paperwork with Leegality

BEFORE Leegality

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Time consuming: Disbursals used to take 7-8 days because of high paperwork TAT

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Prone to Mistakes: Missed signatures, manual errors and blank form signing were serious problems earlier

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Signing was a hassle: Getting all the signatories in one place at the same time was a headache.

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Anxious customers: Delays, especially when it comes to home loans, used to add to the customer’s anxiety

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Physical stamping process: SIB was using physical stamp papers which caused a lot of logistical problems

AFTER Leegality

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Super fast disbursals: Paperwork and disbursals now happen immediately

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Zero mistakes: No errors and no missing signatures anymore. Everything is filled up digitally without any manual intervention

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Sign from anywhere: All the parties involved can now sign from anywhere

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Happy customers: Customers are happier since SIB can now commit to a quick timeline to finish off all the paperwork

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NeSL digital stamping via Leegality: Real time digital stamping through NeSL implemented via Leegality

Con icon

Time consuming: Disbursals used to take 7-8 days because of high paperwork TAT

Con icon

Prone to Mistakes: Missed signatures, manual errors and blank form signing were serious problems earlier

Con icon

Signing was a hassle: Getting all the signatories in one place at the same time was a headache.

Con icon

Anxious customers: Delays, especially when it comes to home loans, used to add to the customer’s anxiety

Con icon

Physical stamping process: SIB was using physical stamp papers which caused a lot of logistical problems

Pro icon

Super Fast disbursals: Paperwork and disbursals now happen immediately

Pro icon

Zero Mistakes: No errors and no missing signatures anymore. Everything is filled up digitally without any manual intervention

Pro icon

Sign from anywhere: All the parties involved can now sign from anywhere

Pro icon

Happy customers: Customers are happier since SIB can now commit to a quick timeline to finish off all the paperwork

Pro icon

NeSL digital stamping via Leegality: Real time digital stamping through NeSL implemented via Leegality

SIB Case study

READ THE FULL IMPLEMENTATION STORY →

Mr. Abey Abraham, General Manager, Head – Mortgages & Key Account Management; Mr. Mohan TM, Joint General Manager, Head – Legal and Mr. Nishad Davis, AGM – Legal spoke to us about-

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SIB’s old physical process to execute home loan documents

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Challenges posed by the old physical process

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Why SIB decided to completely digitise their home loan documentation

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SIB’s new Leegality powered digital paperwork process

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The business and compliance benefits of the new digital flow

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SIB’s experience implementing NeSL via Leegality

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Their interaction with Leegality’s support and account management teams

SIB Case study

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