16 March 2020, Kathmandu
Tinau Mission Development Bank Ltd. has signed an agreement with S.B Solutions Pvt. Ltd to implement the Loan Automation System to automate and digitize processes like internal loan workflow, risk assessment, credit documentation, and approval of the loan. Mr. Pradip Kumar Shrestha, Chief Executive Officer of Tinau Mission Development Bank Ltd and Mr. Bipul Dhakal, Chairman of S.B Solutions, signed the agreement on behalf of their respective organizations.
With the introduction of the Loan Automation System, banks will be able to replace the paper-dependent loan workflow entirely for the internal loan approval process. Beside Loan Automation, it is expected to mitigate the credit risks associated with loan clients by monitoring of risk parameters within the system. Loan Automation System is built on the internal ratings-based approach as per the international standards. With this new system implementation, bank and end consumers can get benefits with an estimated 50% reduction in turnaround time of the loan processing and approval process.
Tinau Mission Development Bank Ltd. has received the operating license from Nepal Rastra Bank to function as a “B” Class Development Bank. It has achieved the triumph to establish itself as a Strong & Reliable Bank in Nepal. Tinau Mission Development Bank Limited (TMDBL) emerged after the successful merger of Tinau Development Bank Ltd, Mission Development Bank Ltd, and acquisition of Nepal Community Development Bank Ltd in the year 2076 B.S. Bank has a customer base of around 2+ Lakh and 54 Branches spread all over the country.
S.B Solutions Pvt. Ltd has been providing Digitization & Automation of banking products and processes with a wide selection of products like Loan Approving System, Online Loan Eligibility, Online Account Opening, Document Management System, Vendors Management System, Corporate Banking System to automate letter of credit and guarantees, Memo Management System, Budget Management System, and Mobile Application. Currently, more then 15+ Financials Institute and corporate houses have been using the systems built by SB Solutions Pvt. Ltd.