TATA Capital Housing Finance Limited Playlist
Tata Capital Housing Finance Limited (TCHFL) is a renowned Housing Finance Company and is a wholly owned subsidiary of Tata Capital Limited - one of India’s largest lending organizations. TCHFL’s wide product range includes loans for purchase and construction of a residential unit, purchase of land, loans against property, home improvement loans, home extension loans, project finance loans to developers etc.
From a digital standpoint there's no aspect or nuance of the business today that you do without technology or digital, right? I think as an organization also we are moving to that stage where a majority of the processes should be digital or automated maybe by the next financial year. We've been at the forefront of automation. We've launched a lot of digital initiatives both from a customer standpoint, as well as from an internal process efficiency standpoint.
To digitize the sanction letter process TCHFL decided to go ahead with Leegality - despite many “cheaper” options
Leegality offered a one-stop solution For the other partners that we evaluated, their coverage was not as elaborate aswhat Leegality was offering. We wanted somebody who could help us with a one-stop solution for signing, stamping, DSC, and obviously give us various options in each of these areas. So let's say if I'm just looking at signing. I want multiple signing options because I just don't want an Aadhaar based signing because operate in geographies like a Siliguri where people still use a 500 rupees mobile. I cannot expect [all] my customers to have Aadhaar mobile linkage. So I have to see how best I can service my customers. Also, Leegality has eStamping services, directly or indirectly in 20 States. Other partners don't have that coverage. Simple and efficient solution The digital flow for sanction letters would ultimately be in the hands of our sales team. And sales teams always choose the path of least resistance. They want simple solutions. Their job is to get in more business, their job is not to operate complex technology. . So we wanted something which is a 2 click thing or a 3click solution. With Leegality, the process was very simple and efficient for oursales teams. The other partners we evaluated didn't fare well on this count. Helped meet tight project deadlines From my perspective, as a project leader or a program director, speed to market of the solution was a critical factor. I was given a deadline of around 20 odd days to implement the digital transformation of sanction letters. So, on this count, from conceptualising the product, to designing it, to defining the process around it, to going live, to UAT and everything else - Leegality scored the best.
How TCHFL and Leegality worked together to go live in just 22 days
TCHFL’s digital team had strict deadlines to digitize the sanction letter processI didn't have more than 22 days [to implement this project]..Leegality came in with subject matter expertise….At every step of the discussion there was a lot of clarity about whatwe shouldn’t do. Prateek (Sales director) and his team would come inand tell us “look, your objective is this, you should not go for A,B,C. Ihave a D solution for you.” As a user I can tell you the businessproblem. I can come and tell you that my customer is facing thisproblem, my sales is facing this problem etc.. But from a solutionstandpoint, you probably have better visibility once you have listenedto my problem. So that understanding was very good from Leegalityand we could quickly eliminate what we didn't want.Extremely responsive support and helpful training sessionsI think 15 out of the 22 days were spent on conceptualizing anddesigning. Once we finalised that and got approvals, it took us only acouple 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 welaunched this. I think the support we got from Prateek (ImplementationDirector from Leegality) has been fantastic, phenomenal. We gotexcellent turn around times on every request that we made