The Bank of Bhutan (BoB) clients can now apply for loans, cards, credit cards and INR prepaid cards online through its website and Mbob anytime, anywhere. Called the Loan Origination System, the facility will do away with paper works and speed up loan processing works. The online system was launched nationwide yesterday.
Loan Origination System is an application process that enables the customers to initiate an application for processing and facilitating with regard to approval of loans. A client can apply for certain loans from any region and have the option of selecting the branch office from where they want to avail the facility. After submission of the application, the customer will receive an email alert or SMS, advising him/her to visit the bank to complete the documentation formalities if everything is in order.
The system is expected to greatly reduce time and effort involved in various process thereby increasing the overall efficiency and productivity of the bank in delivering services to its customers.