Globally, Home Loan Origination (HLO) is going through an extraordinary phase. The housing market is at its peak, citing an urgent need for the banks to transform and digitalize their origination process to stay abreast of the competition. The need to process and approve faster has never been more important than NOW. Customer needs are the key drivers of innovation in today’s lending market. Traditionally, a loan origination process takes a longer time for completion and is tedious with its reliance on paper-based transactions over multiple touchpoints. The in-person interactions resulted in higher costs, inefficiencies, unpredictable delays, and poor customer experience.
Today “Instant” Or “On the Go” is the buzzword from BNPL (Buy Now pay Later) to Insurance. HLO is no exception. It’s not just the “Digital Out Experience” but also the “Digital In Experience” behind the scenes that will ensure and enable banks to achieve their goals in this space. Virtusa, with its deep experience in the Home Lending Origination Transformation space, both within Australia and across the globe, will help you accelerate this transformation journey. The origination process can be completed faster with efficiency, resulting in superior customer experience, and saving costs.