Manual loan booking, or offline loan, lets you create loans for customers who haven’t signed up on your apps.
This feature is useful when you have customers who cannot sign up to your apps for one reason or the other. Or it allows you to quickly create a loan and disburse to customers who may just be engaging you from where they do not have access to the internet.
For example, your customer may be in the market and need an emergency loan. Once you approve and disburse the loan, they can likely use their debit card to complete the urgent purchase.
How to set up an offline loan product for manual loan booking
To activate this feature, simply follow the steps detailed below:
- Navigate to the “Loan Products” page to view a newly created or edited product
- Select the “Product Attributes” tab and navigate to channels
- Click on the “Channels “attribute option to specify the offline channel
- Click the edit button and set the loan to the “Offline” channel option and deselect all other channel options as the decision model for offline loans may be different.
- Click the save button
Watch this video that explains how the manual loan booking feature works on Lendsqr.
Also read: How Lendsqr is using AI to transform its processes