At the recently concluded NBQSA – The National ICT Awards 2021, LB Finance PLC won the Silver Award in the ‘In-House’ category for their Eclipse Credit Appraisal System. The award ceremony was held at the BMICH recently and organized by the Sri Lankan section of the BCS the Chartered Institute for IT.
Developed by ISO 27001:2013 certified IT Department and Centre for Technology and Innovation of LB Finance, the Credit Appraisal Module of Eclipse Core Finance System provides a perfect contactless solution for enabling transactions with minimal human interaction and plays a central role during the COVID-19 pandemic.
Eclipse offers an Omni-channel experience that allows employees to carry out their work seamlessly at their convenience across the Android/iOS mobile apps and desktop computers. Compared to the manual file system of the past, the new digital Eclipse System offers improved customer turnaround time in terms of credit approvals due to elimination of the hassle and delay of couriering manual files from different branches across the country. Eclipse facilitates centralized lead management to capture and follow-up business leads received from different channels and the business leads are visible across the regional sales hierarchies. It also provides geocoding and tagging facilities that empowers marketing officers to work onsite at the customer’s location and upload photos real-time to a centralised system.
The Credit Module also uses a credit score backed by Artificial Intelligence and Machine Learning. This score analyzesthe customer’s internal and external loan repayment history, demographic information, historic appreciation/depreciation of asset values, historical loan to value ratios for a similar asset.
Ultimately, this score acts as a Decision Support System for the credit approvers to take better-calculated decisions on the customers probability of default.
ECLIPSE offers an Omni-channel experience that allows employees to carry out their work efficiently. Compared to the manual file system of the past, the new digital ECLIPSE system offers convenient mobile and desktop data entry that allows the team to generate and easily record different business leads that can be used and verified across departments.