Asset Financing Firm Increases Customer Base with Jisort
The Challenge
We are an asset financing firm that provides equipment for farm mechanization and agro processing to customers on a leased loan basis. Our main challenge was keeping updated records on our customers and the status of their loan repayments in order to offer better rates to our loyal customers.
Specifically, we wanted to:
- Generate updated financial reports for our loan portfolio
- Plan preferential rates for customers based on their repayment history
The Solution
We implemented Jisort, which is a secure and compliant cloud banking platform designed to help financial institutions like us automate services and launch digital products quickly.
Here are the key reasons we chose Jisort:
- Loan Tracking: Jisort enabled us to easily track loan payments and balances.
- Data Migration: We could smoothly transition our existing Excel-based customer data into Jisort’s loan management system through their bulk data migration tools.
- Custom Reporting: Jisort generated the detailed financial reports we needed to analyze our loan portfolio and determine customer loyalty rates.
The Results
Since implementing Jisort:
- Our customer base has grown as we’ve been able to offer better rates to customers with good repayment histories
- Loan tracking is easier with all data in one system, enabling us to spend less time on manual admin work and more time servicing customers
- We’ve been able to finance more SMEs in the agricultural sector by having a stronger understanding of our loan portfolio’s performance
Here are some of the key metrics showing our success with Jisort:
| Metric | Before Jisort | After Jisort | % Change |
|---|---|---|---|
| Number of Customers | 1,200 | 1,800 | +50% |
| Loans Tracked | 800 | 1,500 | +87% |
| Repeat Customers | 30% | 45% | +50% |
The Future
With Jisort’s loan management system in place, we are positioned for strong growth in the coming years. Features we are looking forward to using more:
- Automated late payment notifications to customers
- Customer portal for self-service access to loan details
- Expanded custom analytics reports
Overall, Jisort has given us the agility and customer insight we need to rapidly mature our technology capabilities and service more customers. We eagerly anticipate the platform being a core driver of our growth for years to come.
