Mortgage financier HDFC Ltd has partnered with Accenture to digitally transform its lending business.

The collaboration, which leverages cloud-native applications, machine learning, automation and advanced analytics, is expected to revamp HDFC’s customer experience and business processes to deliver greater operational agility and efficiency. and drive business growth.

Renu Sud Karnad, Managing Director of HDFC Ltd., said, “HDFC has a rich heritage of customer-centric innovation, and we have always viewed technology as a way to bring us closer to our customers. Continued market disruption in the mortgage industry requires a focused commitment to digitally reinventing customer experiences, which we believe will be key to driving future growth. »

The transformation exercise aims to make HDFC Ltd’s loan lifecycle more sustainable. paperless and agile. A key part of the program is a cloud-native lending platform with digital workflows for every stage of the customer journey, including application, loan processing, credit underwriting, disbursement, and loan servicing. loans. It leverages a machine learning-based decision engine aimed at improving risk mitigation and fostering agility by standardizing the credit underwriting process.

The platform includes a user-friendly mobile app and a web portal for customers. Developed using human-centered design principles, the intuitive mobile app and web portal will enable native digital experiences and significantly reduce the time required for customer onboarding. They will also provide customers with real-time visibility into the status of their home loan application and other related service requests anytime, anywhere.

Additionally, a mobile app with a specially designed and fun user experience will help HDFC’s large sales force and channel partners track business leads and serve customers in real time.

Sonali Kulkarni, who leads financial services in India for Accenture, said, “We are delighted to be a key partner of HDFC Ltd. in their next frontier of customer-centric innovation – by digitizing their loan process from start to finish. By adopting a cloud-first approach, HDFC will be able to leverage the power of digital innovations and integrate AI-powered insights throughout their lending lifecycle. The platform will also serve as a blueprint for additional new services and customer capabilities, all enabled by a cloud-based digital core, which is essential for business reinvention. »

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