Tata Consultancy Services’ “iLens” is a new digital lending platform that ICICI Bank has launched (TCS). From loan application through credit disbursement, iLens digitises the entire lending process for borrowers.
In the beginning, iLens services would be made available to clients looking to obtain housing loans from ICICI Bank, according to a statement from TCS.
“We have aligned mortgage loans to ‘iLens’ platform making us the first to digitise the entire mortgage lending process. This brings in a significant shift in the industry, as digital journeys for home loan are available only till receiving the sanction letter,” said V V Balaji, Chief Technology Officer, ICICI Bank.
The digital process offers hassle-free onboarding through paperless login, uploading documents, receiving instant sanctions, appraising properties, and disbursement of loans, TCS said.
ICICI Bank plans to offer other retail loans such as personal, auto, and credit cards on this platform.