In the rapidly evolving digital economy, smooth access to credit is essential for business success. Perfios Credit Gateway (PCG) stands out as a powerful solution that connects lenders with digital platforms, transforming the lending process. Let’s explore how PCG operates and the innovative features it offers.
The Mechanisms Of Perfios Credit Gateway In Action
In the heart of India’s financial district- Mumbai, amidst towering skyscrapers and bustling streets, BrightLend Bank stands as a beacon of stability and trust. Led by Alex, a seasoned loan officer with a penchant for precision, BrightLend Bank prides itself on delivering unparalleled service to its clients. Meanwhile, across the country, Maya is on a mission to revolutionize the dining experience with FoodFusion- a cutting-edge restaurant aggregator designed to provide seamless access to a variety of dining options for food enthusiasts across the city.
As Alex and Maya navigate the complexities of lending in today’s fast-paced world, they encounter many challenges—from cumbersome paperwork to fragmented data sources and manual processes. Despite their best efforts, inefficiencies abound, leading to delays, errors, and increased operational costs.
Amidst the chaos of the lending landscape, a beacon of hope emerges—Perfios Credit Gateway (PCG). With its robust features and cutting-edge integrations, PCG promises to streamline operations, enhance efficiency, and reduce costs for financial institutions like BrightLend Bank and digital platforms like FoodFusion and many more.
Driven by a shared commitment to innovation, Alex and Maya embark on a journey to harness the power of PCG. With its interoperable OCEN integration and efficient lead filtration system, PCG enables BrightLend Bank to identify and prioritize prospects with precision, streamlining the onboarding process and maximizing lead conversion rates. Meanwhile, at FoodFusion, Maya leverages PCG’s advanced data enrichment and customer identity verification capabilities to accelerate the application creation process. With predefined TKYC API integrations and seamless data collection and processing, Maya empowers diners to access credit quickly and easily, all while ensuring compliance and security.
As Alex and Maya continue their journey with PCG, they witness firsthand the transformative impact it brings to their organizations. By automating pre-sanction procedures, expediting loan agreements, and facilitating swift fund disbursement, PCG enables BrightLend Bank and FoodFusion to cut costs, enhance operational efficiency, increase revenue, and satisfy end-users with personalized credit offers at the point of need.
How Does Perfios Credit Gateway Work?
Perfios Credit Gateway (PCG) ensures effortless end-to-end lending by streamlining and automating processes:
| WITH PCG | WITHOUT PCG |
|---|---|
| 1. Focus efforts on high-conversion prospects for maximum ROI. 2. Predefined TKYC API integrations enrich data for accelerated application creation. 3. Integrate seamlessly with the AA Network for automated gathering and analysis of financial data. 4. Utilize advanced analytics and a robust BRE for informed lending decisions. 5. Ensure compliance with a robust KYC solution for secure identity verification. 6. Automate loan agreement signings and e-mandate setups for expedited procedures. 7. Facilitate swift fund disbursement with seamless integration with LOS or CBS. |
1. Manual identification and prioritization of prospects & uncertain ROI. 2. Manual data entry prolongs application creation with increased chances of errors. 3. Tedious manual collection and processing of financial data which is prone to errors. 4. Limited data insights lead to less informed or inefficient lending decisions. 5. Manual and potentially insecure ID processes leading to higher susceptibility of fraud 6. Manual handling of loan agreements and mandates with slower processing times. 7. Manual processes for fund disbursement with increased likelihood of errors and delays. |
1. Lead Filtration:
PCG begins its journey by identifying and prioritizing prospects, laying the foundation for an efficient and targeted onboarding process. Through sophisticated algorithms and data analysis, PCG ensures that your efforts are focused on prospects with the highest potential for conversion to maximize your ROI and streamline lead management.
2. Application Creation:
With predefined TKYC API integrations, PCG empowers you to enrich data and accelerate the application creation process. By seamlessly integrating with various data sources, it eliminates the tedious task of manual data entry, allowing you to create applications swiftly and accurately. This saves time and enhances the overall user experience, making the journey from application to approval seamless and frictionless.
3. Data Collection & Processing:
Elevating document management to new heights, PCG integrates seamlessly with the Account Aggregator Network, streamlining data collection and processing. By automating the gathering and analysis of financial data, PCG enables you to make informed lending decisions with confidence and precision for streamlined operations and enhanced efficiency.
4. BRE (Digital Underwriting):
At the heart of PCG lies its digital underwriting module, powered by advanced analytics and a robust Business Rule Engine (BRE). This module enables you to drive precision in lending decisions by conducting thorough risk assessments. Leveraging a wealth of financial data and insights, PCG empowers you to make informed decisions quickly and confidently to ensure the profitability and sustainability of your lending portfolio.
5. Know Your Customer (KYC):
In today’s regulatory landscape, compliance and security are paramount. PCG offers a robust KYC solution, providing a user-friendly identity verification process that ensures compliance with regulatory requirements while enhancing the security of your lending operations. By leveraging advanced identity verification technologies, PCG enables you to onboard customers securely and confidently; hence, mitigating the risk of fraud and identity theft.
6. Pre-Sanction Process:
Expedite pre-sanction procedures with PCG’s automated loan agreement signings and e-mandate setups. By streamlining these essential processes, PCG enhances customer satisfaction and accelerates the lending journey. Customers can now enjoy a seamless and hassle-free experience, from application to approval, setting the stage for a long and mutually beneficial relationship.
7. Disbursement:
Facilitate swift fund disbursement with PCG’s seamless integration with your existing Loan Origination Systems (LOS) or Core Banking Systems (CBS). By eliminating manual intervention and streamlining communication between systems, PCG enhances operational efficiency and reduces the time and effort required to disburse funds.
Conclusion
In summary, Perfios Credit Gateway stands as a revolutionary force in digital lending, offering a seamless and efficient solution for lenders and borrowers alike. With its robust features such as interoperable OCEN integration, efficient lead filtration, and advanced data enrichment capabilities, PCG streamlines operations, boosts efficiency, and cuts costs for financial institutions and digital platforms. By redefining the lending experience, PCG charts a path toward a future where credit access is more accessible, inclusive, and secure. As we embrace the transformative potential of Perfios Credit Gateway, we embark on a journey toward a more streamlined, transparent, and prosperous financial landscape.
About Perfios:
Perfios Software Solutions is India’s largest SaaS-based B2B fintech software company enabling 1000+ FIs to take informed decisions in real-time. Headquartered in mumbai, India, Perfios specializes in real-time credit decisioning, analytics, onboarding automation, due diligence, monitoring, litigation automation, and more.
Perfios’ core data platform has been built to aggregate and analyze both structured and unstructured data and provide vertical solutions combining both consented and public data for the BFSI space catering to their stringent Scale Performance, Security, and other SLA requirements.
You can write to us at connect@perfios.com
