The biggest impact we have seen that the customer also gets a copy of the agreement. In physical mode, if the customer wants to see what exactly is executed, he has to come back to the branch. And somebody has to print the documents, take a photocopy and give it to the customer. Now that requires manpower. And the customer as well as the branch have to spend time. Today, a copy goes to the customer. So he can always keep it in his records and see what he has agreed to. It is a completely transparent method of doing it

Through digitisation, we have actually managed to have much higher productivity

We can commit to a customer today that your documentation can be done in hours time, or even one day’s time- with all the borrowers signing. So I think that is a very big plus for the customer that he can sit and do it. So that gives us an edge in the entire business

If there are 6 signatories, they can be in any part of the country. Now, all 6 of them can execute. That means disbursement can happen immediately. Earlier, it would take at least seven or eight days. This is something which we are seeing and we are excited

Today, we’ve mandated all our documents in home loan should be through only digital documentation, and we are finding it as a business enabler to push our business further

Leegality gives us speed, reduces manpower, increases productivity, improves customer satisfaction as she knows what she is agreeing to while sitting at home and getting it done

The challenge was that it was getting prepared centrally and then going to the branches . Branches used to then take a printout of it. There's a cost - of printing the entire thing and getting it stamped properly. If you don't stamp it, the entire agreement is void

There could be mistakes at the time of stamping. Or at the time of execution, signatures of all the required parties are not present. Sometimes borrowers would even allege that they were asked to execute the documents in which certain fields would be left blank

Home loan documentation requires about 10-15 signatures. And there can be multiple applicants, with 2 being the minimum. Then if you add guarantor, it can reach to 5-6 or 7 signatories also. And its all one document which gets signed by 6-7 people together in one location. As a result, there’s a lot of work to get all the signatures. Our branch officials had to pre-arrange for everybody to come at one place. And if someone from our branch is on leave, or if stamping is not done – imagine the situation.

Home Loan is always a high-touch product. There are a lot documents from the builders side and the customers side that need to be signed. The customer's biggest concern is that he has made a big down payment. He wants to finish the transaction as fast as possible and close this transaction.

Branch officials have to spend a lot of time – at least 2-3 days - to get paperwork done. Scanning and printing happens on one day, then next day it gets stamped. Again, that takes time. Then the customer will come on the third day

So we've stopped physical signing and have mandated e-signing. But there are certain use cases where the Aadhaar is not linked with the mobile. Now in those situations I cannot lose the case, just because his Aadhaar is not linked. In those cases we are allowing physical signing

There has been a lot of repeat usage. So anybody who's hooked onto it doesn’t go back to the physical process

So we launched this in late November. Our penetration in November was 2%. We did some push, but it didn't help. Our penetration in December was 3%. Our penetration in January rose up to 11%. And in June, we are already at 40%. So obviously you see the trajectory right? From 3 to 40 - its a 13 fold increase in just 7 months

Pune as a location has the highest adoption rate today in my ecosystem. They've been adopting this since November. Today if you go and ask any sales guy to sign the physical sanction letter, they will frown upon you. They'll say sorry, we will use Leegality. . It's like a behavioural change

The other is, there are 15 or so documents in those 50 odd documents, which will require stamping. Which means he'll have to go to a lawyer and procure those stamp papers, or go to the IGMR website to procure e-franking. It's a time consuming activity.

Today, the amount of work that a guy does on preparing the docket is 2 to 3 hours on a month end where he is absolutely rushed with targets. Now what happens in those 2-3 hours? He has to fill that document manually, which is 40-50 pages long. So there is a huge scope of risk, human error etc. The other is, there are 15 or so documents in those 50 odd documents, which will require stamping. Which means he'll have to go to a lawyer and procure those stamp papers, or go to the IGMR website to procure e-franking. It's a time consuming activity.

Leegality also gives us a time-stamped audit trail of these sanction letters that have been signed. It exactly tells us who has signed it, from what machine they have signed it, when have they signed it, and when did they initiate and when did they complete. So tomorrow even if I have to present this in any of the audit forums or any of the risk forums it gives us a very, very good handle on what happened when.

You spend a lot of effort, time and money in Implementation, but then what happens? Once you launch it, nobody's using it. Leegality’s MIS helps us deal with this In the first month, we saw only 2-3% utilization of Leegality. We could only figure this out because of Leegality MIS Reports. Now, about 7 months after going live - our utilisation rate is about 40%. MIS Reports also give me a handle on my finances. I know how many eSigns have happened, what is the cost I've incurred. So in the future I can accordingly prepare my finances in advance keeping in mind our internal approval process for any financial expenditure

Earlier my salesperson would go physically to the customer, he would get the sanction letter signed, then he’ll come and submit it to the credit manager. The credit manager would see it and match it with the system. Then he would submit it in turn to the operations manager. All this hand over used to take a lot of time. Now what we've done is, we've created a single bus. So the moment it [is sent for eSigning and comes back] digitally, it goes to everybody.

With the Leegality Dashboard there's a lot of control that's been given to us directly as business users. So with any problem that happens in Mysore or Vizag, my sales officers can quickly reach someone from my team in Bombay - and they’ll immediately login as an admin user and fix the issue. It's a quick fix. Nobody cries, and everybody's happy. It's a win-win for everybody. So I it's very good from a control and management perspective

From an admin control and user management standpoint, the Leegality Dashboard is very convenient. If there is any workflow tweaking or anything similar, it can be directly done by my team.. I don't have to call up anyone from IT or even the Leegality team.

We said let's do one thing. Anyways this dashboard is available with Leegality. It's a ready to use solution. It's just that my salesperson will have to login in a separate window, but that's about it. If it is saving two hours per visit, he might as well go ahead and spend two minutes on the dashboard. Most importantly, the solution was very simple. It was a 2 click solution. Had it been an elaborate process then obviously it wouldn't have worked for us.

I am personally working with more than 60+ vendors today and I think that the support that the Leegality team offers is best-in-class. We get real-time support. It’s 24/7.

I think 15 out of the 22 days were spent on conceptualizing and designing. Once we finalised that and got approvals, it took us only a couple of days for configuring all the users and then rolling it out. Leegality also helped us with a lot of training that we did when we launched this. I think the support we got from Prateek (Implementation Director from Leegality) has been fantastic, phenomenal. We got excellent turn around times on every request that we made