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The home buying business in the industry was highly competitive. One of the critical success factors was to provide superior home buying experience with a differentiated offering to the customers. The bank was looking to adapt increased automation and digitalization led initiatives to improve end user journey and reduce time to sanction.

One of the critical aspects of the lending process is property valuation. Bank faced a number of pain points in the home lending valuation process – a critical element in lending life cycle

  • A customer’s loan application and pre-application valuation process were tightly coupled that led to dearth of flexibility for lenders and brokers
  • Multiple channels for external valuation initiation, mostly manual, leading to duplicate requests & additional operational expenses
  • Lack of synchronisation between the pre-application and downstream process, requiring manual intervention
  • Higher cycle-time for valuation leading to delay in sanction
  • No internal source of truth to ensure better leveraging of valuation reports during the permissible period of 6 months

A scalable Pega solution is built on the Enterprise Pega Platform with two key components - a robust Pega Workflow solution supported by a dynamic Pega Decision Engine to fully automate the valuation process.

The solution framework built by HCL is now being extended to automate all processes and approval flows in the end to end Home Lending cycle, and a centralized decision engine to house & manage all Home Lending rules.