Key highlights
Automated loan application processing
Automation-led operational efficiency gains
£1 Bn fixed-rate loans in one year
Challenges
The existing fixed-rate lending product (with three- and five-year tenures) had gaps in credit monitoring and pricing structures that needed to be addressed before relaunch.
Solution
Developed a solution to automatically convert loans to fixed-rate at maturity, streamline customer communications, close gaps in credit monitoring and pricing, address market competition, and enable faster application processing.
Impact
1.
£1 billion fixed-rate loans in one year of product launch
2.
Enabled product relaunch within six months
3.
Improved customer satisfaction on the Salesforce CRM platform
4.
Automated end-user reporting and generation process
5.
Improved operational efficiency