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Legacy Application Modernization
Digitization of loan origination portal catering to application entry, document fulfillment and booking modules

About the Customer

Customer (a Fortune 500 company with revenues over $8 bn) is the world’s largest global provider of financial technology solutions which provides wide variety of financial solutions across diverse areas like retail banking, institutional banking, payments, asset and wealth management, risk and compliance, trade enablement, transaction processing, record keeping.

Business Scenario

The financial institution facing challenges in areas of Loan Origination due to legacy systems and legacy technologies involved and looking to digitize the overall lending suite to improve the customer experience and reduce costs

Challenge

  • Existing Loan Origination Portal is built on legacy technology solutions.
  • Not fully aligned to changing market dynamics and customer demands.
  • Not workflow driven

Strategy and Implementation

Tech Mahindra involved in design and development of Branch Portal for application processing and document fulfilment.

Key Features of Solution

  • Complete revamp of existing loan origination portal catering to application entry, document fulfillment and booking modules.
  • Created business process flows for complex modules.
  • Developed PoCs to prove workable concepts on complex integrations.
  • Developed complex interfaces with multiple systems (external and internal) like external document providers, core banking systems etc.
  • Developed automated test scripts on key features

Impact

Digitization of Loan Origination Process improved customer experience, reduced the overall cost and delivered these benefits

Implementation Highlights

  • Faster development using agile approach.
  • Early client/user engagement via periodic client demos during development phase.
  • POCs developed early in the sprint to prove third party integration concepts, that helped saved time during actual development.
  • Test automation enabling faster TAT

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