http://www.hcltech.com/financial-services/overview~ for more Financial Services

4. HCL implements an online Mortgage
Loan Origination system to boost
productivity and grow business
BACKGROUND
 Our client is a Fortune 500 Financial Services company offering banking,
investing and insurance solutions to a select group of individuals and enterprises
 It wanted to increase efficiencies in the Mortgage Origination and Fulfilment
Process by reducing cycle time and manual intervention, while achieving member
satisfaction. However, the pain area was a burdensome, time consuming
mortgage application that did not include any advanced features
 It therefore collaborated with HCL to develop a dual facing, web based, integrated
suite of applications that would help enhance member experience
CHALLENGES / OBJECTIVES
The client faced several challenges with its mortgage application: SNAPSHOT
 The system was a third party application, designed to originate loans online. But
this resulted in multiple sign-on for the bank’s representatives, loan processing
officers and customers  Vertical: Banking & Financial Services
 There was a lack of visibility into the exact status of an application as apps  Service Areas: Application Development,
Maintenance, Testing, Infrastructure
originating online were transferred through a batch process
Management Services and BPO
 Several costs involved - maintenance cost, and costs based on the number of
 Technologies : Java, Web Technologies
loans originated
 IPs / Frameworks: Apply
 Members could not receive online quotes, rate alerts and subscription options
 The application was not integrated with the company’s proprietary product rules for
deriving pricing, fees, and calculations

5. THE SOLUTION
 Early into the project, HCL’s Business Analyst Academy deputed Senior Business Analysts to define the
technology roadmap with end-to-end architecture, and subsequently, HCL’s Centre of Excellence for Testing was
involved before the application went live
 HCL collaborated with the client to enhance member experience by developing a dual facing web based
application called ‘Apply’. The idea behind ‘Apply’ was to develop an integrated suite of applications that would
include pre-fill member information, online content and notifications, online quotes, rate alerts, online application
and certified cash buyers, and real estate lending web business services
 During the development of ‘Apply’, multiple backend applications and several automation scenarios were required.
There were over 1200 automation scenarios and each scenario had over 200 attributes from massive backend
systems like Fidelity, FDR and CBT to be updated
 ‘Apply’ was rolled out to all 50 states on an incremental basis. Regular feedback from the Member Service
Representative on the floor as well as from members was sought, analyzed and incorporated, to ensure that
‘Apply’ remains user friendly
RESULTS / BENEFITS
 ‘Apply’ is an efficient and effective dual facing application with single sign-on - leading to superior Member and MSR experience
 The application ensures an increase in the number of online originations and has reduced the applications originating via phone
by 30% (expected to decrease by 50% in the next 3 years)
 Superior member service through the automation of ‘inclusion & exclusion’ rules for assets, liabilities and income calculations
 Our client is actively considering reusing ‘APPLY’ in other business areas of banking and insurance, where there are challenges
related to automation

6. Hello, I’m from HCL! We work behind the scenes, helping our customers to shift paradigms and start revolutions. We use digital engineering to
build superhuman capabilities. We make sure that the rate of progress far exceeds the price. And right now, 88,000 of us bright sparks are busy
developing solutions for 500 customers in 31 countries across the world.
How can I help you?
www.hcltech.com