At Yubi, we understand that lenders need access to individual loan information in a coherent manner on a single platform during loan securitization. The lack thereof can be detrimental when making business decisions to invest and stretch-out processes such as comparing individual loan details, going through scores of KYC documents, and filtering out the loan applications with details that do not fit the lender’s criteria.
Many lenders reported having to painfully go through each loan file, select it, download it, and then access it offline via Excel sheets. This process seemed counterproductive for the lenders since it increased the time taken to go through an individual loan file.
Moreover, lenders had no means to store (in an organized manner apart from creating individual folders on their own systems) the aforementioned individual loan files. As a result, loan documents, personal details, KYC documents, bank statements, and collateral documents could not be fetched by the lender instantly or stored for record-keeping.
Keeping this in mind, Yubi’s latest product update ensures that lenders can view the loan-level information including accessing all the relevant documents, right from the web-view, moving forward.
Here’s how that happens.
Viewing loan-level information on Yubi
The individual loan information and all the documents related to it will be uploaded on Yubi. Basic user information like name, age, address, employment status, and loan information details like disbursed amount, POS, EMIs, and maturity date will now be easily visible to the investors. Additionally, KYC and loan origination documents will also be visible at the same time within the webpage.
This will help boost transparency in the loan-level information and the collateral provided by the applicant. Furthermore, the investors will be able to mark specific loans as ‘KYC Verified’ or ‘Documents Verified’ after viewing the loan information and the associated documents. This will facilitate fast-tracking the loan application process for the investor by reducing the time to go through loan-level information and documents.
The latest product update will also allow investors to download the loan and KYC documents.
Filtering loan applications out
After investors go through the user information and documents submitted at the time of loan origination, investors can filter loans out based on their KYC criteria. For example, if an applicant has not uploaded all KYC documents and some crucial proofs are missing, the investor would be hesitant in disbursing the loan amount to them.
To learn more about the