L&T Financial Services scales digital credit operations with Video PD by VideoCX.io
L&T Financial Services implemented VideoCX.io’s Video PD platform to streamline credit assessments across farm loans, SME credit, mortgages, and personal loans at scale.
At a glance
- Use Case: Video Personal Discussion (Video PD) (SaaS)
- Departments Covered: Personal Loans, Micro Loans, Housing Loans, Farm loans, Mortgage loans, and SME Credit
- Go-Live Date: 1st Jul 2021
L&T Financial Services
L&T Financial Services adopted VideoCX.io’s Video Personal Discussion platform to digitize and scale credit assessments across multiple lending products, improving efficiency, oversight, and risk control across India.
Problem Statement
- Physical PD are time consuming, TAT is more and less cost effective.
- Seniors are not aware of the onsite issues and commitments done by the credit officers, which affects business growth in the long term.
- No digital evidence of the customer, thereby increasing the possibility of fraud.
Solution by VideoCX.io
- Video PD helped them to overcome the above problem statement.
- The cost per PD got reduced and more PD were processed on a single day, thereby increasing their business volumes. This opened doors to other departments.
- National Credit Managers can review the Video PD and help in cases where the credit manager could not take decision for the loan disbursement.
- Having digital presence of the customer ensured there is no fraud done by the credit manager.
- Customer data is stored forever.
- Increases the reach across India.
Customer Touchpoint Journey
- The Bank employee sends the link to the customer via Videocx.io.
- SMS Gateway is of Videocx.io.
- The customer receives the link, clicks on “Start Chat”.
- A notification is triggered on the Bank employee’s chat window, allowing them to start the session.
During the Video PD Call
The agent guides the customer through the following steps:
- PAN Card screenshot.
- Location sharing.
- Surroundings photograph.
- For SME Credit: Screenshots of stock or inventory, business premises, and Owner/employee presence
- For Housing Loans: House number and house photographs
- For Micro LAP: Property condition screenshots
- For Personal Loans: Address proof capture and asset ownership verification (two-wheeler, etc.)
Post-Call Workflow
Once the Video PD is complete:
- Chat link with Video Recording link is manually copied and pasted in LOS.
- The supervisor reviews the recording.
- Based on this review, the loan is either approved or disapproved.
Ready to scale digital credit assessments across multiple loan products?
See how VideoCX.io’s Video Personal Discussion (Video PD) platform helps NBFCs digitize and scale credit assessments across personal, housing, micro,farm, mortgage, and SME loans. while reducing TAT, improving senior oversight, and strengthening fraud controls.
Whether you are managing diverse loan portfolios, standardizing credit discussions across regions, or enabling audit-ready decisioning at scale, VideoCX.io provides a purpose-built Video PD platform trusted by leading lenders.
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