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Development of a web-based, end-to-end Loan Origination System, which brought in consistency in decision making and compliance to regulatory requirements for a leading bank in New Zealand

Development of a web-based, end-to-end Loan Origination System, which brought in consistency in decision making and compliance to regulatory requirements for a leading bank in New Zealand

Customer

A leading full service bank based out of New Zealand with over 1.3 million customers, providing full range of financial services for retail and business banking, including home and business lending.
 

Business Requirements

  • Need a web-based loan origination solution
  • Solution should cater to all the delivery channels Branch, Brokers, Mobile Managers, Lending Support, Pricing & Credit and Sales Direct
  • Minimize the paper work and automate the Administrative information Data Entry
  • Automate the creation of Loan Documents for any Loan Application
  • Automate the drawdown process
  • Integrate the Lending application with other internal Applications of the Bank
 

HCL Solution

  • Developed end-to-end loan origination solution to cover all the lending products of the bank
  • SLA driven work flow based solution with pluggable workflow architecture
  • Reusable design for future enhancements of the system
  • Straight Through Processing
  • Seamless integration with systems in bank and also external systems such as Credit Bureau
  • Developed a business rule process to generate documents based on loan parameters
  • Developed a document wizard to facilitate creation and merging of documents
 

Business Benefits

  • One stop solution for origination of all the lending products
  • Minimized the touch points to process loan application from 5 to 2
  • Capture of ‘Ask-once’ customer details and efficient reuse across the bank’s systems
  • Reduction in process time by 50%
  • Reduction in cost by 30% by improving the efficiency of the back office functions
  • Easy capture of business performance metrics with the SLA driven workflow
 

Technology

  • J2EE Platform using Struts Framework (Java, JSP, EJB, Hibernate)
  • Domain Modeling using Rational Rose
  • Accelio WebOutputPac for Loan documents

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