A major Fintech player in India, managing over 2 million active loans, faced significant challenges in reconciling loan disbursal and collections data across multiple systems. The company's legacy processes struggled with data from various sources, including core banking systems, payment gateways, and collection agencies, leading to delays, errors, and operational inefficiencies.

The reconciliation process was a major bottleneck, taking up to 5 days to complete each month. This delay exposed the company to financial discrepancies and hindered timely reporting to regulators. Manual exception handling overwhelmed the operations team, with over 5,000 cases requiring investigation monthly. Moreover, the existing setup lacked the agility to adapt to new loan products and changing data formats from multiple sources.

The operations team turned to Osfin's Intelligent Automation Platform to address these challenges. Osfin implemented a multi-source data ingestion layer, capable of handling various file formats from different systems. An intelligent normalization engine was deployed to standardize data from disparate sources, while a configurable matching engine was set up to handle complex reconciliation scenarios.

The entire implementation, including data migration, rule configuration, and staff training, was completed in just 6 weeks – 40% faster than initially projected. This rapid deployment allowed the Fintech player to quickly realize benefits.

"Osfin has revolutionized our reconciliation process. What used to take days is now completed in hours, with unprecedented accuracy. The platform's flexibility in handling various data sources has significantly improved our operational efficiency and financial visibility."

Head of Operations

Within two months of going live, the Fintech player achieved remarkable improvements. The end-to-end reconciliation process now completes in under 12 hours, a 90% reduction from the previous 5-day cycle. Auto-reconciliation rates increased to 99.5%, significantly reducing manual interventions.

The improved visibility and control led to a 60% reduction in unreconciled items and a 10% decrease in write-offs due to reconciliation discrepancies. Osfin's low-code functionality empowered the operations team to modify reconciliation rules without IT dependency, enabling quick adaptation to new loan products and data sources.

Two legacy reconciliation systems were decommissioned, reducing maintenance costs. The company's reconciliation processes were consolidated from 500+ to just 50, and 200+ Excel spreadsheets were eliminated.

The estimated annual savings of $200K, achieved through process optimization, reduced write-offs, and system consolidation, underscore the significant financial impact. More importantly, the Fintech player has positioned itself to meet future challenges in the dynamic lending landscape with improved agility and data accuracy.

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