Unisys Africa is assisting financial institutions with facilitating the National Credit Act (NCA) advisory process by offering a solution that helps speed up managing customer appointments and related administration for loan approvals.
This will help banks improve processes to meet new requirements in the Act, resulting in quicker home and car loan approvals, ultimately improving customer service levels.
According to Marius Krige, sales director of Global Financial Services at Unisys Africa: “The NCA is set to positively transform the lending environment in South Africa. As with all new legislation, there are bound to be a few teething problems, and South Africa’s major banks are naturally struggling with additional requirements. Consumers are thus experiencing delays in the approval of home loans and motor financing in the credit lending advisory process.”
Krige says an answer to improving the advisory process is the software solution, Unisys Appointment Manager. The Unisys solution will assist financial institutions and their agents, including mortgage originators and vehicle dealers in facilitating the NCA consultancy process more effectively and efficiently by providing a centralised system to manage client meetings, correspondence, and other relationship activities, across all bank products. This allows the bank to better service the customer faster and easier, even outside normal branch hours.
With the introduction of the NCA, additional staff training has become essential, resulting in home loan applications taking up to three times longer than usual to process, as both advisory and back office processes must ensure that the new law is not violated. Sometimes additional appointments are required as clients are asked to bring in extra paperwork.
Krige says “Appointment Manager addresses these issues and can help banks grow their home loan business by managing and improving customer service by providing a consistent business process.
Appointment Manager’s current innovations include integration with SMS messaging, 3G and other technologies, as well as integration with internet portals and geo-spatial software; all of which will result in improved productivity and customer services levels in South Africa’s financial institutions.