A corporate DSA (direct selling agent) is a person who is assigned by the bank or NBFC they are affiliated with to bring them potential clients – individuals or business owners – for loans. A corporate DSA gets trained by the bank or NBFC with the right set of skills to pull as many potential clients as possible. Every bank and NBFC has somewhat the same terms and conditions for a corporate DSA. After the training is complete, the corporate DSA is then given some duties until the loan gets successfully paid out.
The corporate DSA links loan seekers to lenders (banks or NBFCs). They also need to look after the entire documentation process for the specific loan application and ensure the submitted papers are as per the guidelines. Below mentioned are some of the other job responsibilities of a corporate DSA other than generating leads –
- Calling potential clients: The main duty of a corporate DSA is to call potential clients and link them up with the registered bank. A corporate DSA can only make a call when someone expresses their desire to apply for a loan. Therefore, only a person who has given acceptance to receive calls for loan solutions will get a call from the corporate DSA. As for the clients who deny the offer, a corporate DSA must respect their decision and not call them up trying to convince them to get a loan.
- Maintain the privacy of the client: Maintaining the privacy of their client is the main priority of a corporate DSA. Although, if the client has allowed any other friend or family member to intervene otherwise, you cannot discuss their interest with any other person.
- Transparency: It is very important and much appreciated of a corporate DSA to be transparent with your client. The DSA should not mislead the borrower about any loan product or services provided by the registered bank or NBFC. A corporate DSA shouldn’t ever make any fake claims or promises on behalf of the bank that they can’t fulfill later on. If you display honesty and transparency, your clients might even recommend you to other people. Hence, maintaining transparency is crucial for networking in this field of work.
- Further precautions: A corporate DSA must respect and value every customer’s privacy. You must not visit their house or office if the client does not wish for you to do so. Try to maintain a professional distance from the client and respect their personal space.
- Take care of documentation: When the client agrees to buy a loan product from your financial institution, only then get all the documents ready. Gather all the required documents according to the bank’s or NBFC’s requirements and submit them to the assigned authority. You are involved in the entire process till the loan gets paid out to your client.
In a nutshell
A corporate DSA connects the bank or NBFC with potential clients, gauges the background of potential clients, collects and submits the documents from the clients and tracks the process of the loan application.