People’s Bank completes deployment of digital loan origination system across entire branch network

Thursday, 2 May 2024 00:00 -     - {{hitsCtrl.values.hits}}

People's Bank Head Office 

People’s Bank marked another significant milestone in its Digital Transformation journey with the full launch of People’s Wiz-Credit (Retail) digital loan origination system across its entire branch network. 

The People’s Wiz Credit Retail Loan Origination System (RLOS) is an advanced platform that revolutionises retail loan processing. It replaces manual processes with an end-to-end digitised system, streamlining loan applications, disbursement, and post-disbursement activities. This digital transformation enables the bank to process personal loans within hours of the initial request, offering customers an exceptional and unparalleled experience.

The implementation of RLOS marks a significant shift towards efficiency and customer-centricity. By digitising loan processing, People’s Bank aims to enhance operational efficiency, reduce processing times, and deliver superior service to its valued customers. With RLOS in place, the bank is well-positioned to meet the evolving needs of its clientele in an increasingly digital world.

Furthermore, the deployment of RLOS underscores People’s Bank’s commitment to embracing cutting-edge technology and innovation. By investing in advanced digital solutions, the bank demonstrates its dedication to staying ahead of the curve and providing best-in-class services to its customers.

People’s Bank CEO/General Manager Clive Fonseka said: “One of the main objectives of the People’s Bank is to use our superior digital banking capabilities to enhance our customer centricity. Hence this achievement is a monumental milestone for us as it enables us to fulfil a retail customer’s loan requirements faster than ever.”