SMFG India Credit strengthens personal loan verification with Video PD by VideoCX.io

SMFG India Credit adopted VideoCX.io’s Video PD platform to digitise personal loan verifications, improving turnaround time, consistency, and credit governance.

SMFG

At a glance

  • Use Case: Video Personal Discussion (Video PD) (SaaS)
  • Departments Covered: Loan Against Property (LAP), Business Loan ( BL), Personal Loan (PL)
  • Go-Live Date: 1st Aug 2021

SMFG India

SMFG India Credit adopted VideoCX.io’s Video PD platform to digitize and streamline personal loan verifications. By replacing physical PDs with secure video-based interactions, SMFG India Credit improved turnaround time, enhanced verification quality, and enabled scalable credit operations across geographies.

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 Bank Employee guides the customer through the following steps:

  • PAN Card screenshot.
  • Location sharing.
  • Surroundings photograph.
  • For  Business Loans they take screenshots of the stocks.
  • For  LAP House number, house photos against which loan is taken.
  • Call is then marked as Success, Reject, or Pending with comments.

Post-Call Workflow

Once the Video PD is complete:

  • Chat link with Video Recording
     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 personal loan verification with stronger governance?

See how VideoCX.io’s Video Personal Discussion (Video PD) platform helps NBFCs digitize personal loan verifications, reduce credit TAT, improve senior oversight, and strengthen fraud prevention through secure, recorded video interactions.

Whether you are processing high-volume personal loans, standardizing verification quality across regions, or enabling audit-ready credit decisioning without physical PDs, VideoCX.io provides a purpose-built Video PD platform trusted by leading lenders.

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