Introduction
At AstraGlobal, we are dedicated to optimizing your lending operations, potentially reducing costs by up to 50% or more. With over 20 years of offshoring experience, we focus on effective communication and thorough training to ensure our staff are both skilled and proficient.
Our commitment to excellence includes continuous updates on industry trends and regulations, enabling efficient and compliant lending operations. By leveraging automation and a strategic digital approach, we streamline loan processing, minimize human error, and boost success rates, providing you with cost-effective lending solutions.
Services to Lenders
Pre-Qualification
Our well-trained agents utilize an omni-channel approach to determine applicants' eligibility criteria effectively, providing you with comprehensive insights and support.
Team will ensure completion of loan application.
Loan Processing
Every detail is meticulously addressed and verified before final processing.
All documents are verified and organized to meet defined service level agreements (SLA); expediting the loan approval.
Underwriting
Based on the documents submitted by the customer, risk assessment Is made upon which the underwriter will make the decision on whether to approve or deny the loan application. They determine the terms and condtions including pre-defined loan amount and interest rate.
Collection
We are qualified and experienced to offer an end to end solution for your business. Astra Global has a compliant, in-house dedicated debt collection team that will help manage your unpaid loans and create a positive cash flow for your company.
Back Office Reporting
We are well versed in creating dashboards and reports including performance reports, payment decline reports, reminder service reports etc.
Pre-Qualification
Our well-trained and professional agents employ an omni-channel approach to evaluate applicants’ eligibility for loan pre-qualification. The omni-channel approach assists in gathering comprehensive data and insights to offer thorough support and guidance tailored to the client’s needs. Our service gives the customers peace of mind and confidence as they explore loan options
Loan Processing
Once pre-qualified, our experienced Loan Processor Team takes over. Their expertise simplifies the application process, boosting efficiency, ensuring compliance, and maximizing loan approvals. Every detail is meticulously addressed and verified before final processing. All documents are verified and organized to meet defined service level agreements (SLAs), expediting the loan approval.
Underwriting
Based on the documents submitted by the customer, risk assessment is made after which the underwriter will make the decision on whether to approve or deny the loan application. They determine the terms & conditions, Including pre-defined loan amount and Interest rates.
Collection
AstraGlobal specializes in offering end-to-end solutions for managing unrecovered loans by leveraging our experience in debt collection. Using a combination of technology and skill, our qualified and compliant team is proficient in recovering unpaid loans, ensuring efficient customer interaction and positive cash flow for your business. Committed to your success, our team operates through three distinct stages:
Reminder Stage
In the initial phase, our team engages with borrowers, either through direct interaction or text messages, to remind them of outstanding payments.
Early Stage
Should the borrower surpass the grace period, we proactively reach out to them, urging payment and sending email reminders for immediate settlement.
Late Stage
At this crucial juncture, we leverage our omni-channel approach, along with calls and letters, to connect with the right party. We inform debtors of the potential consequences of non-payment and explore various resolution options, specifically deferment programs, hardship assistance, and new repayment plans.
Loan Servicing Debt Collection
Reminder Stage
Our team makes a call and sends a Text message, if permitted, to remind the borrower they have missed making the payment.
Early stage
When the borrower is past the grace period date, we call and seek the past due amount. The call is followed up with an Email asking for the immediate payment amount.
Late stage
Establishing Contacts through Calls, Letters & other Omni channel approach to maximize collections and to provide different payment solutions such as Deferment, Hardship or New Payment Plan may be offered. We further advise debtors of the potential consequences of non-payment to reduce delinquency.
Back Office Reporting
AstraGlobal creates in-depth dashboards and reports to provide clients with a comprehensive analysis of payment declines, reminder service summaries, performance reports, and more.