A U.S. banking giant using legacy origination and fulfillment system knew that automating mortgage lending would be difficult, but it saw an opportunity to improve turnaround times and slash costs using automation.  Home loan can be one of the most complex decision because of the onerous mortgage process.  Dealing with paperwork and red tape, the process is complex due to the very complicated and thorough information required by the underwriters.  The bank also hoped to attract new tech-savvy consumers.

Fast, efficient and error-free mortgage lending is the expectation of today’s borrowers, who are now accustomed to the anytime-anywhere digital experience that define the modern lifestyle.  In fact, according to industry surveys, 80 percent of the potential borrowers have expressed preference for an entirely online loan application process.

Our proposed solution needed to focus on service differentiation to enhance competitiveness in the mortgage market.  In the longer term, digitally enabled mortgage experiences are expected to become the norm  to invest in digital innovation.