Accelerate SME lending through digital offering | HCLTech

Accelerate SME lending through digital offering

Client is a large bank in Europe. Their strategy is to grow Small and medium enterprises lending business by creating a differentiating customer experience. Client’s vision is to provide customers with the most effective solutions to help manage their financial wellbeing.

The end-to-end SME loan origination process of the bank was fragmented between multiple business divisions. One of the critical aspects of the loan origination process is loan processing and approval. There were several deficiencies in the loan application process such as:

  • Manual loan process with limited use of technology
  • Excessive paperwork in loan processing
  • Multiple handoffs leading to delay in loan approval
  • Lack of automation in credit decisioning stage.

HCLTech’s solution levers include accelerated data driven decision making, digitally driven application process, machine learning and advanced API-driven architecture. To accelerate the entire loan origination process, HCLTech enhanced the BPM (Business Process Mapping) tool, using Pega platform which includes loan origination development & integration, Pega BPM integration, credit risk assessment and compliance, smart contracts, and product changes & repricing.

Download the success story to know more about how HCLTech’s solution levers provided business benefits to the client.