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Kastle™ Digital ensures seamless, self-service customer onboarding for KSA-based financing company

Overview:

Based in the Kingdom of Saudi Arabia (KSA), the company provides financing solutions that comply with the Islamic Shariah. Through its strategic partners, it offers financing for consumer durables, automotive and heavy equipment.

Company Snapshot:

Company: KSA-based financing solutions provider
Sector: Financial Services
Regional presence: Kingdom of Saudi Arabia

Challenges Faced

The financing company wanted to improve the experience of its customers by allowing them self-service facilities for onboarding and applying for a loan. The main challenge of the client was in effectively working with multiple third-party interfaces to streamline this initiative. They wanted to have enhanced digitalization across the entire lending operations, by implementing a technology solution that could also collaborate with the existing core lending system. The objective was to ensure a digital and seamless experience for their current and potential customers.

The Solution

The financial institution implemented Azentio Banking’s Kastle™ Digital with innovative features supporting user registration, two-factor authentication, online application with the Yakeen interface, digital signing of documents with Emdha, and PN signing with Nafith. Functionalities for guarantor sign-in and digital verification were implemented.

Key Benefits

Kastle™ Digital enables the client to onboard new customers and enhance their experience with a seamless application.

Key benefits gained with the solution:

  • Customers can complete the entire process of loan application digitally
  • As the solution is integrated with the core lending solution, IT users of the financing company can maintain the same level of flexibility for digital loan applications as while using a common configuration module
  • Quick and effective introduction of different product lines and services through the customer facing application
  • Simplified end-to-end financing process
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