BankWorld Fast Loans provides the capability for your bank to pre-approve a group of customers for a loan, define the terms, fees and conditions and push this offer across all channels.
Unique to BankWorld is the fact that customers can enrol for an offer automatically at the self-service channels without the need for manual operations. This enables banks to offer customers the ability to accept pre-approved instant loans at self-service channels.
For example, customers can be offered an instant loan at the ATM and accept it there and then. BankWorld will automatically treat the request and the customer can decide to withdraw the cash immediately or transfer to a selected account. Instead of just advertising through their self-service channels, with BankWorld, banks can actively sell through them.
A proven method of increasing sales
Customers in some countries were also found to be reluctant to apply for small loans in a face-to-face situation with a customer service representative. BankWorld enabled the bank to establish a pre-approved loan facility delivered directly to the customer through the ATM.
In certain markets, CR2 banks have increased their loan revenue by 30% at the ATM using BankWorld without reducing the loan sale in branches.
Benefits of Fast Loans
- Increase loan acceptance
- Generate increased revenue through loan fees
- Loans can be accepted 24/7 on a variety of channels
- Added convenience for the customer, increased customer satisfaction
- Reduce costs by migrating loan requests to self-service channels
- Free up teller time and reduce queues at the branch