Transforming customer experience through instant lending within minutes | HCLTech

Transforming customer experience through instant lending within minutes

The client, one of the large banks in Europe was looking forward to adopt a strategy to provide loan credit to its customers within minutes. This was a part of the client’s vision to provide its customers with most effective solutions to manage their financial wellbeing.

The bank’s loan origination business process was fragmented between multiple disparate processes. The process involved multiple manual steps for the customers from submissions of the online application and required documents to manually sending signed and scanned copies of the contract to the bank after the loan is processed.

Following solution levers were needed for the transformation of client’s business process

  •        Accelerate data driven decision through income detection models
  •        Digitally driven application process to reduce branch visit and reduce operational risk
  •        Strong workflow management to improve Straight Through Processing (STP) and automation
  •        Digital consent management for GDPR compliance
  •        Leverage the power of reusable capabilities through Pega layer cake approach
  •        Advanced API driven architecture enabling accelerated information exchange such as credit bureau etc

HCLTech has a proven expertise with more than 30+ years of experience in the lending landscape for such transformations. HCLTech has been a strategic partner for banks and financial institutions in lending transformation programs across multiple geographies. Leveraging strategic partnership with Pega, HCLTech has helped top 20 banks across the globe to accelerate digital adoption and drive business outcome led initiatives.

Download the success story to know more about how HCLTech helped the client to achieve the desired outcomes.