Normally we mark the relationship managers or branches in CC because they are not directly linked with the document execution process. They need to know the status of all the ongoing loans. Leegality’s CC feature helps us with this.

RM had to take the printout and ensure all the pages were in place and then travel to the borrower. The borrowers have to sign on each page. The longer the loan agreement, the more the signatures. They hate it.

Our BC partners are all very happy. Their productivity has grown substantially as they take lesser time to disburse loans.

We had already integrated with Leegality for Auto Loans and were happy with that. We knew it was capable of Aadhaar esigns. So we integrated with Leegality APIs.

It's not complex to integrate [with Leegality], it's just plug and play.

Whenever we connect, we don't receive any kind of uncomfortable feeling at all, at any point of time when we are conversing with them. In a recent case we wanted to have our custom consent limit [increased] from 500 characters to 1,000 characters. It was done in just10 days this was a very quick response that we dont see from other tech partners

Earlier everything was on pen and paper and emails. We started business with ten LCO partners across the nation, and we grew up to a number of hundred or 150 by the end of 2019 or 2020 mid. And with Covid coming in, the demand for broadband shot up in 10 months. So the number of LCO partners grew from 150 to 1,700 partners. And managing all that paperwork on emails, paper and Excel became too tricky.

The major problem that I faced was after the agreement had been sent a lot of my signers stated that they had never received it. So that was a problem. It was available in our system, we could see that it had been sent to so and so party. But the other parties said that we haven't received it. So then I had to get in touch with their customer team, all those things.

Once it is uploaded into the dashboard, I had to go page wise and figure out which pages need a signature. There was a solution to add signatures to all the pages, but it was not customizable - I could not customise the signing portion on each page. I have to do it one by one if I have to do it. So that was creating problems

Whenever I used to upload anything into the system, the system, it logged out immediately, There was no time span in between. And then I had to redo it again. And suddenly there was an error which I was not aware of, and to treat that error, I have to contact to the individual department

Every now and then we need to make changes to our account opening form. With the Leegality Template Engine, we can change these pages very easily. We can just change one page and that’s all it takes. No need to change the entire document

So if you look at it, actually, there’s zero paperwork

I had taken two other loans previously from other banks. For those, we had to go there and wait for a long time and sign a lot of paperwork. It took 2-3 hours to get it done. And it took about 5-6 days for the loan to be disbursed. With Federal Bank, we only had to go to the branch once and it only took around an hour. I prefer electronic signing over physical signing, it just takes a thumb impression. Otherwise, we have to sign a lot of paperwork. Biometric is much better.

The borrower comes for the meeting and instead of waiting around, they can immediately complete the documents, return for the meeting, undergo the biometric validations, and sign off. The disbursement is triggered and they receive the money.

Our experience with Leegality for KCC was very good. So Leegality was our natural choice because of the relationship they already had with us.

Documents can be executed just using a link. Customers can review the document at any time. Then they are stored digitally. Document retrieval has also become very easy.

We handle 20,000 to 50,000 loans per month. Bookkeeping was time-consuming and operationally inefficient. Whenever we needed a document, we had to look for it physically

One clear benefit of digitization is it gives you the confidence to scale up. You can do business in remote places, even if you don’t have a branch.

Being a vertical handling a large number of accounts, physical loan documentation was a herculean task for us. It was impossible to scale up

Employees would waste a lot of time performing administrative tasks. BCs needed to carry all the documents 20-50kms to the branch. At the branch they had to check all the borrower details, whether all the pages are in order and if all the signatures are in place.

It used to take 10- 15 days for disbursal. Now loans can be disbursed in 72 hours. If not for the JLG orientation we would be able to disburse loans in 30 minutes.

Physical paperwork is extremely time-consuming. From application to disbursal, it would take 10 to 15 days.

There is a huge acceptance of digital documentation - it’s purely a misconception that rural India is not ready. With the availability of smart devices, people are becoming more tech-savvy, even in rural areas.

The process has become very seamless. We can measure how much time each step takes and we have experienced eSign execution in as less as 40 seconds. So that was a breakthrough.

After one round of discussion, we were very comfortable with Leegality officials and they immediately took forward this project and soon got into a very advanced stage of implementation and integration of the platform