Key highlights
Modernizing the lending process
Processing time reduced from four days to 4.5 hours
Low costs via decisioning, digitization, and AI CHC
Challenges
The client sought to enhance their loan origination system to reduce end-to-end processing time and turnaround time for regulatory changes, eliminate inefficiencies caused by manual checks, and reduce the cost due to aging and outdated technology.
Solution
Undertook modernization of the lending processes through the HALO project (new tech stack, including Power Platform, Power Apps, Power BI, Power Automate, and DataVerse).
Impact
1.
Reduced E2E app processing time from four days to 4.5 hours
2.
Lowered RMS time by 95 hours/month, LOPs by 97 hours/month
3.
£80K saved/year in system support cost
4.
40% lower test time with faster regulatory updates
5.
Better risk controls, tracking
6.
Automated processes