Ensuring growth through centralization and cost reduction

A major challenge was the legacy system's limited product-building capabilities. Apart from addressing it, some other challenges were:

• Accelerate growth 
• Improve CRM solution 
• Build simplified and centralized IT architecture
• Improve time to market for products (especially in the lending area)
• Reduce operational cost
• Abide by the Australian Regulatory Compliance
• Merge two bank entity solutions.

We worked with the agile delivery methodology to come up with business solutions. The key highlights of our latest engagement are:

• Developed end-to-end automated customer onboarding and loan origination solution, including KYC requirements
• Implemented CRM to ensure better risk control
• Implemented loan product builder framework to reduce time to market.

Our efforts in streamlining the existing systems for better customer experience and developing loan products have yielded results.

• Product time-to-market reduced by more than 50%
• Customer branch visits were reduced by more than 70%
• Cost reduced by 40% due to simplified architecture
• Risk decreased substantially due to the merging of the two banking platforms.