Kashmir Indepth

J&K Bank Launches Comprehensive Digital Loan Platforms for Housing and Gold Loans

We are confident that these online loan journeys will significantly benefit our customers: MD

Srinagar, Jun 14: In a landmark move towards full digital transformation, J&K Bank has introduced automated online processing for Home Loans and Gold Loans, along with launching TAB Journey and Current Account Online services for customer onboarding. These initiatives are designed to enhance customer experience by providing seamless, efficient, and swift loan processing, and convenient customer onboarding.
MD & CEO Baldev Prakash unveiled the new digital services at the Bank’s Corporate Headquarters, with top management and senior officers in attendance.
Speaking at the event, MD Baldev Prakash highlighted the bank’s commitment to innovation and customer satisfaction. “Our new digital loan journeys are a testament to J&K Bank’s dedication to leveraging technology to provide superior banking experiences. By automating and streamlining our loan processes, we are not only enhancing efficiency but also ensuring our customers enjoy quick and hassle-free access to credit.”
“This digital initiative is part of our broader strategy to modernize our services and meet the evolving needs of our customers. We are confident that these online loan journeys will significantly benefit our customers, offering them flexibility, convenience, swiftness, and transparency,” he added. Deputy General Manager Mohammad Muzaffar Wani provided a detailed overview of the newly launched products.
The Bank’s Housing Loan processing is now entirely automated, integrating multiple in-house systems such as the Core Banking System (CBS), Risk Scoring System, and third-party solutions from Credit Bureaus and Fintechs. This advanced solution blends workflow management and decision support systems to enhance process efficiency, improve Turnaround Time (TAT), and elevate service quality, ensuring swift and smooth service delivery.
For quick processing of loans against gold ornaments and jewelry, the newly launched Online Gold Loan offers customer-centric benefits like easy application, instant eligibility check, 10-minute quick processing, and disbursal with no foreclosure charges.
Furthermore, the Bank has enhanced customer convenience by launching its TAB and Current Account Online Journeys for customer onboarding, including an assisted account opening process for both savings and current accounts. The current account verification process includes a geo-tagging feature and an elaborate system for performance tracking.

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