HCL Implements Loan Origination Project for a Multinational Bank with Focus on Basel II Compliance and Automation. The bank witnessed challenges pertaining to world regulatory credit compliance (Basel II). HCL’s New Zealand Loan Origination (NZLO) project for the banking major aimed at developing a next-gen lending solution in the same architecture and technology as the Assist programme which had been delivering multiple projects successfully. The end-to-end lending process of NZLO helped:
- Reduce TTFY from over 8 hours to less than 4 hours
- Reduce headcount by 30% in loan processing center
- Increase lending amount by 8% driven by targeted business growth and home lending
- Enable automated and consistent decision making across channels
- Implement a customer-centric framework at every stage of the lending cycle
- Ensure the system efficiently captures and processes the lending applications for personal loans, mortgage market, and overdrafts.