Ahli Bank, an Oman-based financial institution, has implemented Fast Track, the retail lending tracking system to improve the bank’s efficiency in processing and sanctioning loans to its customers.
The bank said that implementing this technology will eliminate the to-and-fro of documents facsimiles and chain of follow-up emails between branches and retail credit and operations, which improves the turnaround time for a loan application right from the time the customer enters the branch until the facility is disbursed.
Priority will be given to the customers on first come first serve basis as the documents are scanned and automatically delivered to the credit department for analysis and review. The status of the credit application will be available at all points in time allowing the customer to obtain clear information.
This system is expected to help in evolving a paperless environment for the loan sanctioning process and to improve customer service, as at any point in time the status of customer loan application is known.
Ghaya Al Barwani, head of marketing at Ahli Bank, said: “Ahli Bank is committed to harnessing the power of technology to build greater efficiencies, both in the growing portfolio of banking products and its services. We are investing in the development of innovative solutions to ensure that we provide convenience, multiple features and security to our customers.
