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Consumer Lending

Convenience, consumer retention, connectivity, and financial intelligence do have a great bearing on the lending process. Fluctuating macro-economic indicators, the low interest rate environment, and increased regulatory pressures are contributing to the variation in demand across consumer lending products, which in turn have had an impact on both top line growth and overall costs.

In addition, changing technologies and business trends and the meteoric rise of social media and digital channels are all creating opportunities for lenders to create new and innovative product offerings.  However, the inherent pressure to secure more and better loans while acquiring good and profitable customers still remains challenging

HCL has extensive industry expertise in consumer lending in the areas of collection and collateral management.   HCL helps customers develop a better loan origination process, and gain higher retention rates.


A snapshot of HCL’s Consumer Lending services:

Consumer Lending Service Offerings - HCL Tech

Consumer Lending Solutions

HCL’s loan origination solutions is an Enterprise Lending Suite in the Retail Loan Origination and Proposal Tracking space, which supports all major retail loan products such as home loans, automobile loans, personal loans and consumer durable loans. Users can configure HCL’s loan origination solution with ease, thus enabling lenders to tailor their origination processes from initial prospecting to disbursal readiness as part of their consumer lending process:

  • Integrated prospecting module for effective leads management
  • Product configurator to set up loan types, business rules, promotional schemes, pricing, fees, documentation and process flows
  • Common loan origination system / platform for all retail loan products such as home loan, auto loan, personal loan and consumer durable loans
  • Configurable rules and workflow engine for STP
  • Risk management features
  • In-built document generation capability and ability to interface with document generation, management and imaging systems like Thunderhead and FileNet/ Documentum

Collection Management Framework

HCL’s collection solution supports all the major retail products such as credit cards, mortgage loans, automobile loans, personal loans and consumer durables loans. The collection system helps lenders keep track of defaulters who falter in their loan repayment commitments. The system makes the process of follow-up easy and robust for collectors helping them save time and become more effective.

The collection solution has the capability of handling end-to-end collection tracking, commencing from identifying Non-Performing Loans (NPL) and Potential Non-Performing Loans (PNPL), to automation of the processes for collection monitoring. HCL also offers ‘Chordiant Collection Manager’ solutions from our partner Chordiant Software Inc.

The key features include:

  • Monitoring of Potential NPL (Past Due) and NPL accounts
  • Automatic allocation to collectors for follow-up and monitoring
  • Automation of the process for tracking, monitoring, scheduling, reminders, alerts generation, letters, and more
  • Provision for administrative tasks such as skip tracing, field visits, etc.
  • Monitoring by supervisor
  • Internet based interface for solicitors to update recovery status on legal proceedings
  • Management reports, including performance reports

Collateral Management Framework

HCL’s collateral management framework enables lenders to accept, map and track assets offered as security for loans. This solution is primarily a collateral document data capture and verification application. The collateral data captured in this application will be used in the workflows of other applications like loan origination and approval, consumer loans, student loans, commercial loans, and SMI (small, medium investment) loans.

Key features: 

  • Stabilized framework for Collateral Management, customizable with ease
  • Automated Workflow
  • Wide Coverage
  • Support all retail products
    • Consumer / Retail Loans
    • Home Loans/ Mortgage
    • Education Loans
    • Vehicle Loans
    • Credit Cards
    • Corporate & Commercial Loans
    • Small & Medium Industry Loans
  • Manual Collateral Handling
  • Maker Checker Concept
  • Interface with core banking system, external systems, loan origination, collateral valuation, and other credit applications
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“This is wonderful stuff, the type of activities that make a big difference to our customer. Truly great work, and please keep it up” – On Successful implementation of WRAP project.

–CIO Large Programs, Leading Bank in Australia and NZ

The combined efforts of our Asset Finance and Commercial Lending IT Service Delivery team and HCL have resulted in an 80% reduction in P1 and P2 incidents over 2010. This is a great testimony to Applications and Operations’ dedication to embed strong service management disciplines, including incident, problem, change, capacity, availability and service continuity management.

- CIO Retail & Business Banking ES, A Large Australian Bank