Cognitive Automation
for Loan Approval

Reduces running costs and errors simultaneously.

Description of Problem

The Client has grown rapidly and the demand for their loans has been increasing. The time for borrowers to get loans approved has been growing longer, given the larger numbers of applications, legacy systems, and limited manual processing capacities.

The primary reasons for the delay are usually application errors, manual time-consuming processes, and the involvement of various stakeholders in the approval process.

Client Overview:

The client is a large regional bank, located in Singapore. They specialize in customer-focused personal banking, credit cards, personal and home loans, and more.

Industry:

Banking

Processes Type:

Loan Approval

How Gleematic Helps

Gleematic will download hundreds of prospective borrowers’ applications from the website. The bots then pull out needed information into spreadsheets. This task usually takes days to be done by humans, but Gleematic is able to do it in just 1 – 2 hours.

With Machine Learning, Gleematic can do the underwriting process to predict whether the borrower is eligible to get loans. The bot then decides the loan approval. This process usually takes weeks by manual process, but Gleematic is able to do it in just 4 – 5 hours.

When the result is final, Gleematic will send an email to the prospective borrower regarding approval or rejection.

Results

neuromorphic-computing

Degree of Robotization: 75% Effort Automated

financial-statement

ROI: 3 Months

Human Error Rate Reduced

tester

Manual Effort Reduction to 75%

real-time

Faster Processing Time: Reduction of 65%

workflow

More Standardization

information-technology

High-Quality Improvement

working-hours

No More Repetitive Administration

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