Home Loan Provider Saved 25% By Switching To Cloud, IT News, ET CIO

With over 100 branches, 2,000 employees and over 3,700 crore rupees disbursed, Shubham Housing Finance is a provider of home loans and financial services to people in the informal sector.

Backed by billionaire Azim Premji Premji Invest’s investment firm, Shubham Housing has digitized all of its core functions – be it sales, credit, finance, human resources and customer support.

The main system includes the Finnone Neo Core lending platform which is widely used by sales, credit, collections, operations and risk control teams.

The ‘Finnone Neo’ loan system is integrated with all major systems and peripheral systems. It’s a one-stop-shop solution for our core lending needs – right from client onboarding, covering disbursements, loan servicing, regulatory compliance and collections. It is integrated with various peripheral systems such as desktops, time cards, rules engine, DMS, accounting system, etc.

“We have a lean internal development team that is constantly innovating on the open source front. For example, we recently launched an internal React-based MIS portal, node.Js, Spring boot which we built in-house, ”said Abhinav Arya, CIO, Shubham Housing.

A digital service channel for customers with WhatsApp enabled notification and chatbot functionality has been introduced. This allows customers to track dues, EMIs, and pay online through multiple channels, of which WhatsApp is one of them.

A cloud-based, multi-channel and end-to-end employee lifecycle management system has been implemented that includes all processes from recruiting to onboarding, HRIS, travel and performance management until the exit.

The company also maintains an industry-leading software-defined WAN (SDWAN) system to securely connect all of its branch offices / ecosystems with real-time monitoring capabilities.

For cybersecurity and data security, Shubham Housing has deployed a Data Leak Prevention System to track data at rest and in motion.

According to Arya, today’s IT workloads need to be simple, fast, and flexible. He believes the cloud is the way to go for managing IT infrastructure and applications. The right pay-as-you-go approach is the mantra for being both inexpensive and innovative.

“We have worked with a number of major players in the public cloud. We shifted our core loan workload from another major cloud player to Oracle Cloud Infrastructure and achieved a 2-fold improvement in application performance. Last but not the least, we find the cloud to be very profitable; we are achieving around 25% more cost savings than before, ”he added.

The company plans to make extensive use of AI / ML for its analytics function. Arya and the team are considering an enterprise-level data warehouse / data lake, with underlying ML support to help the lender leverage predictive and prescriptive analytics. “It can help us derive propensity models, complex behavioral scorecards, etc. “

Speaking of ongoing projects, Arya said, “Customer engagement has always been our priority. With the rapid proliferation of customer interaction touchpoints, we want to deliver a “WOW” experience to our customers every time, regardless of touchpoint. With our CRM upgrade, the new CRM layer will act as an “engagement system” while all other core systems will complement it as “records systems”.

Apart from this, Shubham Housing Finance makes its Supplier Management System more robust to provide seamless connectivity with partners / suppliers through mobile app and web channel for processing transactional inquiries, processing invoices and payments.

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