Bank of Maharashtra launches Loan Lifecycle Management System

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PUNE, 28 Aug, 2020: Bank of Maharashtra (BoM), has launched an enterprise-wide Loan Lifecycle Management System (LLMS) for automated credit delivery, an organizational transformation initiative. This information was stated in a press release shared by BoM.

It was further mentioned that this initiative was taken under the bank’s endeavour to digitize the entire credit delivery system of the bank.

A S Rajeev, MD & CEO of Bank of Maharashtra launched the rollout of LLMS across the bank at Head Office, Pune. The launching of LLMS was also attended by Hemant Tamta and Nageshwara Rao Y. Executive Directors and General Managers from Head Office and field functionaries of the Bank.

During the launch, Rajeev said that the loan management solution will reduce operational cost, minimize the Turn Around Time (TAT) of credit proposals, improve the quality of credit assessment and increase the customer outreach and hassle-free lending. Going forward, customers can initiate their loan request in online mode and track their loan application on a real-time basis.