Tata Capital Housing Finance Re-imagines Title Due Diligence with Teal
Quick Decision Making
99% of Tata Capital Housing Finance's Digital Search Reports requested via Teal are delivered under 3 hours, reducing turnaround time for loan disbursal.
All-in-One Solution
Teal Reports are information packed. Apart from transaction history, Teal Reports include litigation, municipal, and land records among other digital property data. Tata Capital Housing Finance leverages this information to strengthen its existing credit risk assessment processes.
Seamless Integration
Teal has seamless integration with Tata Capital Housing Finance's tech ecosystem, enabling credit managers to request and access information with a single click.
Going forward, we would like to have every loan at Tata Capital Housing Finance sanctioned with a Teal Report. That is the endeavor.
Sahil Palejwala
National Manager - Digital and Strategic Initiatives
Tata Capital Housing Finance Limited
— Case study —
70% reduction in turnaround time
Challenge
Tata Capital Housing Finance Limited is a leading housing finance company in India. They were looking to address one of the biggest bottlenecks in the loan disbursal process, which is the property due diligence. Typically, the due diligence is carried out in 3-4 days as it is a manual process. Tata Capital wanted to reduce this, and crunch the turnaround time for due diligence to under a day.
Solution
Tata Capital Housing Finance leveraged Teal's robust due diligence solutions to provide property reports aimed at addressing the challenge. Teal Reports include information such as municipal and litigation records, transactions, land records among other digital property data. Teal's solution was also integrated within Tata Capital Housing Finance's existing Document Management System seamlessly. The combination of these factors enables the credit managers at Tata Capital Housing Finance to access holistic due diligence on a given property in a fraction of the time needed otherwise, on the click of a button.
Impact
With the time saved in document procurement and management, the credit managers at Tata Capital Housing Finance are able to focus on what matters most - decision making for loan disbursal. With an average of 70% drop in the turnaround time compared to a physical report, disbursals are also quicker, a fact that offers best-in-class customer experience to Tata Capital Housing Finance's customers.
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