Kathmandu, March 17: Tinau Mission Development Bank Ltd. and S.B Solutions Pvt. Ltd has signed an agreement in order to implement the Loan Automation System. Such implementation will help automate and digitize processes like internal loan workflow, risk assessment, credit documentation and approval of loan.
Pradip Kumar Shrestha, Chief Executive Officer of Tinau Mission Development Bank Ltd and Bipul Dhakal, Chairman of S.B Solutions inked the deal on behalf of their respective organizations.
With the introduction of the Loan Automation System, banks will be able to replace the paper-dependent loan workflow entirely for the internal loan approval process. Beside Loan Automation, it is expected to mitigate the credit risks associated with loan clients by monitoring of risk parameters within the system.
“The very System is built on internal ratings-based approach as per the international standards. With this new system implementation, bank and end consumers can get benefits with an estimated 50% reduction in turnaround time of the loan processing and approval process,” reads a press communiqué jointly issued by the two companies.
Tinau Mission Development Bank Ltd. has received the operating license from Nepal Rastra Bank to function as a “B” Class Development Bank. It has achieved the triumph to establish itself as a Strong & Reliable Bank in Nepal.
Tinau Mission Development Bank Limited emerged after the merger of Tinau Development Bank Ltd, Mission Development Bank Ltd, and acquisition of Nepal Community Development Bank Ltd in the year 2076 B.S. Bank has a customer base of around 2+ Lakh and 54 Branches spread all over the country.
Similarly, S.B Solutions Pvt. Ltd provides Digitization & Automation of banking products and processes with a wide selection of products like Loan Approving System, Online Loan Eligibility, Online Account Opening, Document Management System, etc. Currently, more then 15+ Financials Institute and corporate houses have been using the systems built by SB Solutions Pvt. Ltd.
