Bespoke Loan Origination System for a Bank in Indonesia | Tech Mahindra

Bespoke Loan Origination System for a Bank in Indonesia

Business Overview

Our client is one of the top 6 Banks in Indonesia operating in retail, mid-size and wholesale segments.

 

 

 

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Business Challenge

Streamlining Loan Origination
  • Bank had multiple disparate systems and manual processes within the loan origination lifecycle.
  • Lack of integration between the systems resulted in slow response times.
  • Manual processing of applications from multiple channels led to longer SLAs and inability to track the status in real time.

Solution Highlights

Loan Origination System (LOS)

Tech M developed E2E loan origination system (LOS) encompassing point of sale, loan origination, survey & appraisal, credit analysis, disbursement and reporting.

Multi-Channel Integration

The application is omni-channel as well as multi-device compliant across desktop, mobile and tablet devices and integrated with more than 20 external and internal systems of the bank.

Digital Onboarding

Credit card product has a self service customer module for digital onboarding and credit card origination process.

Value Delivered

Legacy Sunset

Sunset of multiple legacy systems and migration to new application has enhanced end user experience and introduced near straight through processing (STP).

Mortgage Acceleration

For mortgages, there was a reduction in turnaround time from 5 hours to 45 minutes with enhanced SLA and tracking. Loan application creation (TAT) improved by 40% and TAT for credit underwriting and start of disbursement cycle improved by 30%.

Mortgage Efficiency

For Credit card application processing, the solution enables a virtual credit card to be created in less than 20 minutes with an average approval TAT of less than 1 minute.