Automated process allows NCSL members to access same-day service

Nasfund Contributors’ Savings and Loan Society have now automated their 1:2 loan process – which means members can access their funds within the same day.
The NCSL in a statement said that the automation process began early this year, with the 1:1 loans.
After its successful roll-out, tests were extended to 1:2 loans to reduce the turnaround time.
Due to the success of the tests, the automation of 1:2 loans was achieved in the middle of last monthr. With over 100,000 members, NCSL continues to look at innovative ways to enable members to easily access NCSL’s products and services regardless of their location, thus improving the convenience factor.
Lending manager, Bernard Geita, said the automation has resulted in minimal manual intervention.
As a result, NCSL is able to process loans well ahead of its service standards: 24 hours for 1:1 loans and 48 hours for 1:2 loans.
“The 1:2 automation is not only beneficial to our members alone,” Geita said.
“It is also a relief to the staff in the sense that the lending officers will be freed up to do other tasks, such a promoting our loan products to further grow our loan book and also undertake other activities to achieve the aspirations of NCSL.
“The automated loan process has been embraced by our members due to the quicker turnaround times and we have seen an increased activity on our loan portfolio as a result.”
The automation of 1:1 and 1:2 loans is available to all NCSL members nationwide.
Members can access this service through NCSL’s electronic channels which includes the biometric identification creens (BIS) located in NCSL branches and online using the online portal.
Access to this service on the mobile phone USSD service will be made available very soon.
This enhanced service allows the members to ultimately be able to do NCSL transactions in the comfort of their homes or offices without the need to physically visit NCSL branches to lodge applications.
NCSL is also cognisant of the need to maintain a healthy loan portfolio and minimise the instances of loan delinquencies.
It therefore closely monitors the loan portfolio and takes appropriate action as and when required.