A DSA stands for Direct Selling Agent. A DSA is a partner to the bank or a financial institution that is assigned the duty to find, generate & close new leads. A DSA can be an agent or an agency. A DSA Partner is the one who is associated with one or more particular banking & financial institutions to help them scout prospective leads & close them into a loan or a financial product that the organisation is selling. A DSA Partner earns a commission on every lead or a particular target when they achieve the pre-decided milestone.
The world of a DSA Partner is interesting. The roles a DSA Partner plays & the tasks they perform on a day to day basis are varied & require a mix of finesse, people skills & tact. Client servicing & being professional always go a long way in this business.
Let us go into the roles & daily tasks of a DSA Partner:
The work of a DSA Partner aims to create a metaphorical bridge between loan seekers & lenders. With their experience & knowledge, they help the seekers of loans with the entire documentation process for the loan application, fundamental checks required before forwarding the application, & ensuring that the documents are as per the prescribed norms & regulations, and guidelines. Let us go through what roles does a DSA Partner play on a routine:
- Reaching out to prospective leads: This is one of the core tasks of a being a DSA Partner. Call the leads & help them connect with the lender. As a DSA Partner, you cannot call people at random. It should only happen when a customer has expressed interest on one of the mediums through which the banks or the financial institutions are generating leads & the customer is aware of the fact that they may receive a call.
- It is imperative to contact the leads only during the relevant business hours.
- Taking care of the documentation: This is a role that arises only when the customer has accepted to go forward with the loan from the lender & the DSA Partner will connect with them in order to help with the documentation process. It begins with filling up to the form correctly to ensure that the form gets through on time & it is processed as per the prescribed norms.
- Precautions should be taken when approaching the customer. A DSA Partner should not approach the customers in their private space or office without their consent. Group visits are a big frown when it comes to approaching the customers. A DSA Partner must approach the customers with a caution & a wise mind. They should not make the client feel uncomfortable. Maintaining a professional & cordial relationship is what will take the DSA Partner towards a path to closing the loan.
Above mentioned are a few of the roles that a DSA Partner plays during the regular course of their business. Anyone who is above the age of 18 years can join an agency as a DSA Loan Agent & work with the agency as a DSA Partner.