Financial Services Firm Edelweiss Launches Digital Lending Platform

How to Eliminate Manual Processing to Accelerate SME Lending?

Edelweiss is one of India’s leading financial services companies, focusing on responsible SME lending. In the past, manual and decentralized processes made it difficult to respond quickly and efficiently to client needs.

Edelweiss set out to create a digital lending platform using OutSystems—a first in India’s lending industry.

"To create our digital lending platform, we identified three goals—a platform development approach, an agile method of development, and a flexible, fast development process. OutSystems stood out as the best partner to meet these goals."

Anish Chowdhary

Senior Vice President at Edelweiss

Iterative Development Delivers a Great Customer Experience

In six months, Edelweiss developed its digital lending platform with OutSystems delivery partner valantic . By using iterative development and continuous communication with users, Edelweiss delivered a great customer experience with a minimum of disruption.

Regular iterative releases—made easier through CI/CD continue to enhance the platform’s features.

Automation Accelerates Loan Origination—Cutting Processing Costs by Two-thirds

Edelweiss’s digital lending platform automates much of the loan origination process, dramatically accelerating lending decisions across three lines of business: housing, business, and personal loans.

The digital lending platform has eliminated paper-based forms from the customer onboarding journey and instantly and dynamically validates each applicant’s creditworthiness as the user progresses through the application process.

Some early outcomes from Edelweiss’s digital strategy include:

• Reduction of critical data loss from 40 percent to zero percent due to automation
• 2x productivity increase
• Enhanced user experience
• 3x reduction in processing costs

Edelweiss was so impressed with the agility it gained from developing on OutSystems that it shifted all ongoing and future development to OutSystems within 12 months.