Case Study: Vistaar Financial Services cuts loan processing time by 65% with Kodak Alaris and NeoLotex

NeoLotex and Kodak Alaris help Vistaar Financial Services reduce the time to process loan applications by 65%

Vistaar Financial Services Private Limited, an Indian non-banking financial corporation, faced a challenge with its paper-intensive loan application process across 220 branches. The manual handling of documents, which could exceed 300 pages per application, led to lost files, duplication, slow processing times averaging 12 days, and high costs. Partnering with vendor Kodak Alaris, they sought a solution to digitize workflows, reduce expenses, and improve security.

The solution implemented by Kodak Alaris involved deploying 250 Kodak ScanMate i1150 Scanners alongside NeoLotex's doQman platform. This integration automated the digitization and workflow, eliminating the need for Windows licenses and reducing cloud storage costs by 60%. The result was a 65% reduction in loan processing time, cutting it from 12 days to just 4, while also improving document security and operational efficiency.

Vistaar Financial Services Private Limited