Improved customer satisfaction through rapid home loan disbursement | HCLTech

Improved customer satisfaction through rapid home loan disbursement

HCLTech harnesses Pega platform to pioneer digital transformation in home buying
5 min read
5 min read

In the pursuit of becoming the 'Best in Class' lender, leading banks in the Asia Pacific region are embracing the 'Digital Lending' revolution. This transformative shift aims to minimize the 'Time to Decision,' enhance customer experiences, reduce operational risks, optimize origination costs and facilitate self-service portals. The vision of one such leading bank was to establish the best end-to-end mortgage experience, ensuring consistent and sustainable growth.

The Challenge

Business process and user experience inefficiencies

Our client faced challenges with delayed fund disbursement, unclear responsibilities in processing queries, high operational risks, inaccuracies in material payments, non-standardized KPIs and difficulty in sourcing and validating information from multiple systems. This operational inefficiency led to a rise in foreclosures, prompting the need for a complete overhaul. The bank partnered with HCLTech to implement tailored solutions.


The Objective

Laser focus on digital optimization

The objectives were precise — optimize disbursement processing speed through standardization and digitization, reengineer end-to-end disbursement processes, mitigate risks with robotic process automation, reduce operational costs, establish proper KPIs for efficient performance measurement and enhance customer satisfaction. The focus was on empowering the bank to deliver a superior end-customer experience and building a scalable platform beyond lending operations.

Improved customer satisfaction through rapid home loan disbursement

The Solution

Leveraging new tech stack for efficiency

HCLTech, in collaboration with the bank, strategically leveraged for workflow and RPA Blue Prism for Robotic Process Automation. Adopting a trusted data approach aimed at eliminating errors in manual processes, an end-user portal was meticulously developed using the PEGA platform. This portal seamlessly integrated with multiple systems, offering a comprehensive view of customer details. Manual processes were efficiently automated using bots, transforming the loan disbursement landscape and significantly enhancing the overall customer experience.


The Impact

New era of digital adoption and unmatched growth

The transformative results were substantial:

  • Complete elimination of duplicate disbursements
  • A remarkable 90%+ reduction in erroneous payment risks
  • A substantial improvement in the valuation initiation cycle time
  • A 29% reduction in non-value-adding processes
  • A significant 56% reduction in manual user intervention

The implementation of fraud detection systems further fortified overall business efficiency. The digital experience for both customers and colleagues underwent a remarkable enhancement, solidifying the bank's position for unparalleled growth in the digital era.