Simplifying Collateral Management Solution
Challenges
- Leading banks of Australia have problem managing collateral platform
- Many offerings have collateral management embedded in larger Origination system or core banking systems; this makes it difficult for the banks to implement an enterprise collateral management system
- Not many banks/FSIs would have capacity to build out a Collateral Management System and buying off the shelf would be a preferred approach, but implementing in the technical echo system is challenging
Approach
- Build in-house, an enterprise grade , highly scalable and extensible Hybrid/SAAS collateral management platform
- Workflow automation to register the end-to-end collateral management lifecycle
- Build enterprise platform to support consumer and business lending collateral management lifecycle
- Integration with various internal and external systems for automated processes
Goals
- Build single enterprise platform solution
- Configurable and manageable solution
- Consolidate & reduce multiple collateral types to minimum manageable numbers
- Customer 360-degree view
- State of the art front end to manage & service collaterals
- Migration of collateral data to single source of database
Result
- 150+ Collaterals consolidated to 40
- No duplicate collaterals in the system
- Single source of truth to refer for lending process
- Seamless management of collateral lifecycle with fully automated solution
- Migrated 1M records from 5 different system to one single target state
- Regulatory compliant platform and reporting
- Single solution for the enterprise
