Being one of the leading banks in APAC, client’s vision is to build the best end to end mortgage experience while maintaining a consistent and sustainable growth.
To be the “Best in Class” lender of choice, leading banks are adopting the ‘Digital Lending’ revolution to reduce ‘Time to Decision’ to minutes, accelerate customer experience, reduce operational risk, optimize the cost of origination and the handling of service requests through a self-service portal. For the customer, lending transformation translates into a digital loan application, reduced branch visits, a quicker decision on the loan application , and competitive rates through data insights.
One of the critical aspects of home loan servicing for an under-construction property is to ensure that the funds are disbursed progressively (progress payments) based on the percentage of completion. Builder/Contractor would send the invoice/receipt/bills for the work completed regularly to the customer and the customer would be required to apply for the disbursement request with the bank.
The disbursement request (based on the percentage of work completed) is a manually intensive process that requires sourcing and validating information across numerous systems. Any delay in prompt disbursement of funds would lead to customer complaints, and potentially a penalty by the builder.
Download the success story to more about HCL’s Rapid home loan disbursement solutions.