Speridian’s Core Lending Solution unleashes growth

Client

Our client, an Indian regional bank specializing in loan products, had been constrained by difficult to use and scale software.  Adopting Speridian’s Core Lending Solution has dramatically increased its lending business while also enhancing their ability to manage risk.  This has allowed them to become leaders in their area, with a growing and very satisfied customer base.

Customer Situation

Our client, a well-respected regional bank had built a strong track record as a preferred institutional lender with exceptional customer satisfaction.  However, system limitations prevented them from growing their business to meet demand.  The systems they tried were insufficiently agile to address changes, and none were sufficiently scalable to accommodate growth.  They needed an automated solution to carry them to the next stage.

Speridian’s Solution

After careful review, Speridian suggested their Core Lending Solution to address the client’s needs.  This product offers the following features to help address concerns.

• A browser-based centralized core lending application that automates the entire loan lifecycle
• Detailed reporting, providing both Dashboards for key metrics, and detailed real-time information
• Streamlined to eliminate redundant processes and interfaces
• Offers a mobile-friendly front end for loan applications
• Includes creditworthiness and risk modeling
• Automates collection installments for customers
• Provides a customer-friendly experience

Technologies Used

ASP.Net,  Web API, ASP.Net SignalR JavaScript,  jQuery, Ajax  C

Business Impact

The implementation required two months to complete, but the business impact was impressive.  Their loan origination business, freed of systemic restrictions, with a new, customer-friendly front end, and with optimized processes, made a major leap forward.  The following information was collected three months after they went live with the product.

• A decrease in loan process time – 75%
• A decrease in loan approval time – 80%
• Customer base increase – 60%
• Automated their lending activities
• Significant reduction in the overdue amount
• Increase in funds volume
• Increase in customer base
• Improved prospect-to-conversion rate
• Improved visibility and control over their business
• Extended customer loan origination process directly to the customer’s doorsteps
• Significantly reduced the manual effort required by providing CIF and Loan documents printing

The results were so strong that the client projected that they would be able to increase their customer base by a factor of 10 within one year.