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End to End Lending Transformation

The end-to-end Lending Transformation program aimed to modernize one of the leading Bank’s lending capability by building inhouse end to end Lending Origination Platform using workflow and automation using  a cloud-native platform. This initiative laid the foundation for streamlined lending processes across various consumer lending channels.

End To End Lending Transformation​
End To End Lending Transformation​ Challenge

Challenges

  • Existing legacy technology hindered operational efficiency, causing longer processing times and decreased customer satisfaction.
  • Lack of automation in the lending application process led to high levels of manual intervention, resulting in errors and delays.
  • Modernization of lending operations, improvement of loan conversion ratios, and enhancement of the overall customer experience were necessary to remain competitive in the market.

Approach

  • Multidisciplinary squads focused on transforming the Broker channel by delivering a minimum viable product (MVP1) that improved broker origination and settlement processes.
  • Squads worked autonomously to design, build, test, and release functionality, maintaining close collaboration with bank product owners and stakeholders.
End To End Lending Transformation​ Approach
Goal End To End Lending Transformation​

Goals

  • Automate the lending application process, reducing approval times and increasing operational efficiency.
  • Improve loan conversion ratios and enhance the overall customer experience.
  • Expand the customer base, automate document generation, and transition to a unified platform.

Result

  • Successfully achieved end-to-end automation of the lending application process, minimising human intervention.
  • Faster unconditional approval times were achieved.
  • Loan conversion ratios increased by over 50%.
  • Full-time employee (FTE) efforts were reduced by 60%.
  • Acquired more broker customers.
  • Automated loan approval document generation and distribution.
  • Provided a user-friendly single view of the application workflow.
  • Migrated to a unified platform, simplifying maintenance and support.
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