Business Digital Transformation

Business Digital Transformation

Our client is a leader amongst mortgage firms based in the USA. Their vision is to facilitate a multitenant platform to fully automate the mortgage business process to give the customers an effortless and agile feel.

The scope of work included development of a single easy access interface for borrowers to interact with their loan form application for faster loan processing align with mortgage industry regulations and to improve overall customer experience and engagement.

Business Digital Transformation

The Challenge

The Challenge Diagram

To align with mortgage industry regulations and to improve customer experience and engagement, there was a need to develop a single easy access interface for borrowers to interact with their loan form application for faster loan processing.

It was imperative to overhaul the existing solution in a way to make the whole process rapid and cutting-edge.

The key challenge was to completely get rid of the old-fashioned way of competing with the ever-changing and complex demands of business head on. The underlying aim was to improve customer experience and engagement and reduce management costs to increase profit margins. It required delivering a speedy and simple process for automation of loan application processing functionality with all required documentation and approvals.

The need for digitalisation was essential to cut down the turnaround time of mortgage functions.

Drive to accomplishment

To achieve the identified goal, our multidisciplinary team got engagement at strategy level to focus on following advancements.

  1. The need for creation of governance model.
  2. Outlining core Business Transformation Roadmap along with detailed Digital Transformation Roadmap
  3. Forming a new “Digitally Enabled Customer” business vision.
  4. A transformative cloud enabled solution that will contribute to elevating the digital capabilities.
  5. Rich foundation of technology architecture to serve B2B and B2C business.
  6. Signing of a robust progressive user interface that can be accessible on both web and Mobile.
  7. Forming a solution with robust governance to guarantee the success of execution for defining and uploading custom templates.

The Outcomes

"The envisioning business strategy and futuristic technology architecture helped refining clear-to-close business process along with simplifying loan documents upload process, establish a governance and correspondence framework between borrower and tenants on each stage of engagement journey and loan application workflows."

  1. Reduction in cost: Automation of mortgage loan processing system helped to drive down infrastructure as well as staffing costs.
  2. Boost in Customer satisfaction: Optimisation of business processes led to minimizing errors, acceleration of loan processing securely, and improved productivity.
  3. Significant improvement in borrower's footfall.
  4. Low turnaround time: Streamlined process helps to meet required.
  5. Quick decision-making process: move to modern cloud technology helped in quick decision-making process platform for mortgage industry.
  6. Provide a Modern, Web-Based 1003 solution.

Contact us today and embark on a digital journey like never before. Let's redefine your online presence together.

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