Monday , 18 December 2017

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NIC Bank introduces online loan applications portal

by: Category: Banking & Finance, Technology A+ / A-

NIC Bank customers will now be able to apply for loans online, this is after the launch of an automated online platform by the bank which will see employees of corporate organizations apply for loans easier.

This innovative new portal will significantly streamline the loan application process as it will also allow for online approval and processing.

The portal, which will specifically target the employees of company’s who have taken up the Bank’s Scheme product offering, will see the loan application time reduced by more than 50 per cent.

The customers who apply will also be able to track the progress of their loan application for unsecured personal loans, mortgages, car loans and plot purchase loans.

NIC’s Group MD John Gachora said the platform is part of the bank’s strategy to offer customers innovative, convenient and modern financing solutions.

“We are the first bank in East Africa to go to market with this solution and are proud to offer our customers solutions which make their lives easier. We pride ourselves as an innovative bank and are always looking for solutions to cater for our customer’s needs, more so in line with our NIC NOW philosophy,” he said

Gachora added that the automated loan processing solution will allow the bank to process more loans faster and with enhanced operational efficiency.

Initially, customers will have to create a profile and simply log in and apply for a loan following a step-by-step process similar to filling a physical loan foam.

Once the loan application is complete, an alert is sent to the company’s Human Resource department to review and approve the loan before it is sent to the bank for authorization and funds transfer.

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