Meeting demand for more insights
Online PSB Loans enables banks to facilitate loans through its marketplace and also offers a white label solution that banks can use to facilitate loans through their own portal or in-branch.
The company has always provided reporting to customers to support these offerings. It started with insights provided in the form of a PDF, but it was soon evident customers wanted more data points. Tableau embedded analytics made it possible to not only provide customers with more data, but to allow them to interact with dashboards and self-serve.
Paresh said that choosing an embedded analytics solution rather than building out its own helped the company to speed time to market. Online PSB Loans went live with the solution just two to three months after finalizing its data strategy.
“If we were to custom build an analytics solution there are a number of features and capabilities we would need to develop from the ground up in order to manage the data sets and perform calculations and statistical analysis. Tableau has all of these capabilities built in. It also provides us with flexibility in how we present our data and at the end of the day that's what really matters to our customers,” said Paresh.
The analytics team initially prepared three to four different dashboards to help banks track specific metrics. It has since expanded on these and created nearly thirty dashboards that provide banks with a more holistic view of their performance. For example, they can analyse performance of different loan products by volume and value and identify their top products. They can also easily view and compare performance across different time periods.
With the majority of the country’s commercial banks on its platform, Online PSB Loans has a wealth of industry data. The analytics team uses Tableau to analyse and share this information with banks as well. The market intelligence includes the ranking of banks in each product category and more granular insights such as the average time from application to approval and from approval to disbursement.
Equipped with all these insights, banks can make better decisions to improve their overall performance and the take up of loans.