Loan decisions in seconds. People still sign.
Thirteen agents underwrite retail loans for Octane Financial Services. Credit, identity, income, collateral and fraud checks run in parallel, a credit memo is written, and a person approves. Approved loans open straight into core banking.
Application in. Account open.
A typical application is checked and summarised in 18 to 36 seconds. Every step is logged with its evidence.
Apply
The applicantA four-step application with DigiLocker, Account Aggregator or upload, in English, Hindi or Marathi.
Check
Five agents in parallelCredit bureau, identity and KYC, income, collateral, and fraud and forensics, each with evidence.
Summarise
Underwriting Summary AgentWrites the credit appraisal memo (CAM) from the findings.
Recommend
Decision AgentCode applies the credit policy: reject, counter-offer, fraud review or recommend approval.
Approve
A personAn underwriter or credit manager approves within their authority. The Key Fact Statement is issued.
Open
Account Opening AgentCreates the customer, loan account, disbursement, EMI schedule and lien in core banking.
Notify
Notification AgentLetters and emails in the applicant's language, with reasons and what they can do.
Four applicants. Four outcomes.
Each applicant is ready to run end to end in the loan portal.
Janet Francis
Home loanCredit score 449, with date of birth, pincode and income mismatches. A reasons letter in Hindi.
John Thomas
Personal loanRecommended, approved by the underwriter, and the account opened in core banking.
Andrew Joseph
Loan against propertySelf-employed, with GST and ITR. Loan-to-value is 86% against a 60% cap, so ₹28L is offered.
James Martin
Personal loanAn edited payslip PDF, caught by comparing the payslip, bank credits and EPFO.
Applicant, underwriter, core banking.
Follow one application all the way through.
The applicant portal
Eligibility, a four-step application, instant document checks, consents, a tracker and letters, in English, Hindi or Marathi.
The agent run
Watch the five checks run in parallel, then the credit memo and the recommendation, with real agent times.
Evidence-linked findings
Every finding opens the document page with the quote highlighted.
Credit memo, counter-offers and KFS
The CAM, a counter-offer when the policy needs one, and the Key Fact Statement with APR.
Underwriter Agent and Loan Assistant
Underwriters ask about an application and get answers that cite the document page. Applicants ask in their own language.
Core banking
Approved loans appear in the core banking console with their customer, loan account and EMI schedule. Look them up with HACLINQ.
Fast credit. Fair credit.
These rules are in the code, not in a prompt, so no agent can talk its way around them.
Never auto-approve.
Agents can reject, counter-offer or recommend. Only a person with the right authority approves.
Agents gather evidence. Code decides.
Matching, FOIR, LTV, EMI, APR and every decision are plain code, not AI.
Every finding has evidence.
Each finding carries the document, page and exact quote, checked against the text.
Reasons for every rejection.
Each reason comes with what the applicant can do, in line with the RBI Fair Practices Code.
End to end, in the loan portal.
Apply as one of the four applicants, watch the agents work, approve as an underwriter, and find the new account in core banking.
- 01Five check agentsCredit, identity, income, collateral, fraudAgents
- 02Underwriting Summary AgentWrites the credit memoAgent
- 03Decision AgentApplies the credit policyAgent
- 04Underwriter approvesWithin their authorityPerson
- 05Account Opening AgentOpens the loan in core bankingAgent
- 06Notification AgentLetters in three languagesAgent