Digital Loan Origination & Fulfillment for a Financial Services Company
Paperless loan origination platform that reduced closing time from 90 to 30 days and boosted productivity by 20%.
Technology Stack
Digital TransformationAgile DevelopmentLOS IntegrationAuto ScalingMonitoring
Challenges
- Create a digital platform to originate loans
- Paperless loan origination
- Online portals for the borrowers and loan officers
- Real time integrations with the LOS
- Implement back-office portals for processing, underwriting, closing and funding
Our Solution
- Performed detailed requirements sessions by visiting each loan processing center to understand the business process
- Established an Agile model by grooming the back logs / prioritizing the sprints for development
- Established robust monitoring for zero downtime and auto scaling to handle seasonal increase in load
- User enablement workshops to enable the Users
- Created wireframes and got approval from the Stakeholders
- Optimized resources in both non-prod and prod environments for cost savings and setup alarms for usage threshold
Results & Benefits
Achieved reduction in closing time from 90 days to 30 days
Able to deliver application releases faster and improved 20% productivity gain
Met release compliance for security scanning and identifying vulnerabilities through pipeline Completed end to end migration sooner than planned duration (18 months)