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Bringing it all together- A case study on Amalgamation

 

Solution Provided 

LENDperfect Loan Origination System

An end-to-end loan automation solution that streamlines the entire loan origination process (right from borrower profile creation, credit underwriting up until approval and sanction) and helps accelerate loan processing of financial institutions.

KNOW OUR CUSTOMER

One of the largest Public sector banks in the country, post-merger with two other public sector banks as per the directives of Ministry of Finance has a combined legacy of 300+ years.

As per the directives of the Ministry of Finance, the country’s banking space witnessed this massive consolidation exercise on April 1, 2020.

ISSUE FACED

The Lead bank in the amalgamation wanted their lending origination software to go-live on Day 0 for all the banks under the single merged entity. The banks under amalgamation had separate hierarchy, products, Credit Policy, Prudential Norms, formats of the documents, Process notes, CBS, Loan Processing. These diversities were the main problem for the newly merged unit to process loan origination in a single application.

 

HOW DID WE SOLVE THE ISSUE?

  • Usage of lead bank version of Loan origination by other banks
  • Harmonized Products in Retail, Agri and MSME vertical adoption
  • One Application with three different identifiers for handling the following
  1. Users and roles
  2. Organization Hierarchy
  3. Different versions of CBS

 

CHALLENGES FACED

  • Bringing users of the two merged entities into the lead bank’s Loan origination application.
  • Analysis of the harmonized products
  • Mapping of Proposal Flow hierarchy Structure of different banks and fitting them into one application
  • Integration of three different version of same CBS systems in a single application

 

RESULT

  • Successfully onboarded all the users, mapping of organization hierarchy, harmonized product changes implemented, integrated CBS in LAPS.
  • Loan origination Application Gone Live on 1st May 2020 across all the amalgamated entity for all the modules.
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Posted in Case Study, LendPerfect Suite