Retail Lending
Industry Challenges
- CUSTOMER CREDIT VIEW Challenges in obtaining a ‘360’ Credit View’ of customers in order to ensure optimal risk decisions
- POOR CUSTOMER EXPERIENCE Systems infrastructure tends to work against customer facing agents in terms of delivering optimal experiences around accurate information, rapid turn around and multi-channel knowledge
- COMPLEXITY OF SYSTEMS Multiple and/or redundant systems across product lines and asset classes that duplication functionality and make it difficult to achieve a holistic risk measure of in-flight deals due to outdated systems and rigid functionality
- POOR TRANSPARENCY Lack of insight and online/virtual involvement of all internal and external parties involved in complex credit needs, such as mortgages
- RIGID TECHNOLOGY Outdated systems incapable of make changes quickly in order to manage product, pricing, competitive and regulatory issues in a nimble and easy to adjust manner
- HIGH TCO High cost of ownership and management resulting from a complex maze of multiple systems used across the lending lifecycle
- CUSTOMER CREDIT VIEW Data quality and data reliance when issues of re-keying and data validity are questioned throughout the loan process
- CUSTOMER CREDIT VIEW Inability to extend systems to cater to other lines of business and product classes, resulting in silo based operation and lack of holistic view of risk and customer knowledge across lending programs.
Davis + Henderson for Retail Lending
- ENTERPRISE CREDIT HUB A singular enterprise credit hub that is uniquely “personalized” for the retail line of business in order to cater to the multitude of product lines from a single platform, thereby enabling truth in risk decisions, quality and validity of data and complete transparency of the process according to role and need
- SYSTEMS AGILITY Total agility in order to manipulate system components to address real-time changes/needs in regards to pricing, risk decisions, compliance, reporting and other operational challenges
- TRANSPARENCY Workflow, Rules and Queue based system in order to automate functions as appropriate, guide work through the process and provide insight, guidance and stakeholder views into simple or complex credit needs without the challenges of having to ‘search’ for the information, which is available at the ‘click of a mouse’
- REUSE Maximum re-use of strategic systems and data in order to ensure a singular ‘master’ across the lending lifecycle in order to achieve better and more accurate reporting information, better quality risk decisions and more timely and customer oriented service agreements
- STRATEGIC/EXTENDABLE Extendable to other lines of business and asset classes without the need to code, develop again or re-implement.
Business & Technical Value
- REDUCED COST AND LIFETIME TCO Singular platform to manage the credit lifecycle, thereby reducing the reliance on a maze of outdated and antiquated systems
- SYSTEMS AGILITY Ability to modify all aspects of the system and operational components as necessary through configuration as opposed to coding, in order to respond to product, pricing, risk and compliance demands as they arise
- BUSINESS INSIGHT Ability for appropriate users to have immediate and transparency access to all credit requests – both new and renewing – in order to achieve appropriate service levels, turnaround times and management reporting
- PROCESS EFFICIENCY & STANDARDIZATION The ability to ensure consistent, actionable and transparent processes across the lending lifecycle in order to expedite throughput, enable users, ensure appropriate implementation of policy and procedure and efficient operations
- LEVERAGE EXISTING STRATEGIC SYSTEMS & DATA Through real-time connectivity, the ability to leverage existing data, systems.