NCSL has announced the full automation of its one is to 2 loan (1:2) process, which means members can access their funds much quicker than before; in most cases, within the same day.
The automation process began early this year, with the 1:1 loans and after its successful roll-out, tests were extended to 1:2 loans to reduce the turn-around time.
Due to the success of the tests, the automation of 1:2 loans was achieved mid-October of this year.
With just under 115,000 members, NCSL continues to look at innovative ways to enable members to easily access NCSL’s products and services regardless of their location, thus improving the convenience factor.
Lending manager Bernard Geita said the automation has resulted in minimal manual intervention and as a result, NCSL is able to process loans well ahead of its service standards which is 24 hours for 1:1 loans and 48 hours for 1:2 loans.
“The 1:2 automation is not only beneficial to our members alone, it is also a relief to the staff in the sense that the lending officers will be freed up to do other tasks such a promoting our loan products to further grow our loan book and also undertake other activities to achieve the aspirations of NCSL,”he said.
“The automated loan process has been embraced by our members due to the quicker turn-around times and we have seen an increased activity on our loan portfolio as a result.”
The automation of 1:1 and 1:2 loans is available to all NCSL members nationwide.
Members’ can access this service through NCSL’s electronic channels which includes the Biometric Identification Screens (BIS) located in NCSL branches and online using the online portal.
Access to this service on the mobile phone USSD service will be made available very soon.
This enhanced service allows the members’ to ultimately be able to do NCSL transactions in the comfort of their homes or offices without the need to physically visit NCSL branches to lodge applications.
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