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IDBI Bank has a digitized LPS

IDBI Bank has introduced a fully digitized, end-to-end Loan Processing System (LPS) for its MSME and agri products. The new system, the bank said. seamlessly integrates with data fintechs, bureau validations, document storage/retrieval, account opening/management, customer notifications and portfolio management capabilities along with embodied policy/knock off parameters. The and automated loan processing system are aimed at providing a superior tech-enabled banking experience to the bank’s MSME & Agri customers. The platform is designed to incorporate knock-off criteria and credit policy parameters for superior underwriting standards. Suresh Khatanhar, Deputy Managing Director of the bank, said the LPS would carry a total of more than 50 product lines and would offer seamless credit lifecycle with over 35 interface touch points to many satellite systems. It integrates with the existing core database, human resource management system, and various other applications of the bank.

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