The client is one of the largest banks and financial services providers in Australia. To differentiate themselves from the competition, they wanted a unique solution that simplified loan applications for customers as well as agents. Infosys helped the bank roll out a do-it-yourself app that enabled real-time process visibility, complete transparency, semi-paperless applications, and an omni-channel customer experience.
Key Challenges
- Become a disruptor by replacing tedious origination processes for delightful digital customer experience
- Develop an app that offers customers and employees complete control and transparency during loan applications
- Deliver enhancements like mortgage top-up features
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The Solution
Real-time visibility and faster cycles
- Displays the entire loan origination and loan disbursement paths for users
- Creates online pre-populated applications based on the applicant’s real-time financial profile
- Banking staff get real-time visibility into the loan origination process with clear alerts for actions pending from either customers or agents
Empowering customers
- Drives customer-centricity through omni-channel experiences, customer-relevant offers and mortgage top-up
- Customers gain single-click visibility into the loan application process from real-time financial profile creation and loan origination to disbursement
Benefits
63% of applications and 43% of approvals through mobiles and tablets
Reduced customer footfall across bank branches
Delivered an omni-channel digital experience to customers
Rapid customer adoption with 2.55 million loan applications originating from the app within one year
