DHFL Reduces Customer Onboarding time from 35-40 Days to 7-8 Days
Challenge
Analyzing huge operational data and spot reasons for customer onboarding delays.
Approach
Automated operational analysis to locate delay parameters across multiple geographies.
Outcome
Reduction by 65% in customer onboarding turnaround time and by 52% in loan application pendency.
A WORD OF APPRECIATION FROM THE CLIENT
To enable access to affordable housing finance to the lower and middle income groups in semi-urban and rural parts of India, DHFL scrutinizes end-to-end customer loan applications in multiple geographic locations. Following the operations protocol, DHFL then verifies the documents and check the eligibility of the applicant.
Their fantastic growth story received felicitation from the Ministry of Housing and Urban Affairs, Government of India for “The Best Performing Primary Lending Institution under CLSS for MIG” in 2018-19.
With massive growth in customer base, came challenges in handling customer operations across multiple customer onboarding functions. Any delay in customer operations would hamper customer satisfaction. In order to create customer delight, DHFL needed a visual analytics solution in form of a data application. The intent was to enable DHFL to take data-driven decisions on areas with operational bottlenecks.
The visual analytics solution was designed to focus on three major hiccups.
To address the business challenge, Gramener developed a set of visual analytics dashboards using Gramener’s proprietary development platform Gramex. Gramex integrated a variety of options in the dashboard for DHFL executives to:
- Get a summarized View of Operational KPIs and metrics benchmarked against thresholds
- Deep-Dive Capability across geographies (Region to Branch), Pendency and Hold categories Analyze and compare Productivity and Capacity across business nodes to identify nature of support required
Our partnership with DHFL also offered a balanced mix of analytics and visualization capabilities. Gramener’s technology consulting improved DHFL’s overall operational excellence with:
- Visual Analytics Dashboards using exhaustive visual elements library available on the Gramex Platform
- Time Series Forecasting using Gramener Forecasting Accelerator
- Branch Segmentation using Gramener Cluster Application
- Customer Churn Prediction using Decision Tree Analysis on R
Gramener worked with DHFL on an in-premise model where data existed within the enterprise on IBM Database stack. We were able to deploy Gramex enabled applications on top of their core systems.
Using the visual analytics data application, DHFL was able to achieve improved operational excellence benefits such as:
- A one-stop summary of all key KPIs and Metrics, for the complete DHFL operating unit
- 65% decrease in customer onboarding turnaround time by enabling individual functions and identifying root cause of delay in processing applications
- 52% decrease in loan application pendency by enabling individual functions with information on areas with high pendency and their respective reasons
