HDFC Ltd has partnered with Accenture to digitally transform its lending business.
The collaboration will revamp HDFC’s customer experience and business processes to provide greater operational agility and efficiency, and drive business growth, the two companies said in a statement on Thursday.
“The transformation exercise is aimed at making HDFC’s lending life cycle paper-less and nimble.
Cloud-native lending platform
A key element of the programme is a cloud-native lending platform with digital workflows for every step of the customer journey including application, loan processing, credit underwriting and decisioning, disbursement and loan servicing,” it said.
The platform includes a user-friendly mobile application and web-based portal for customers.
Renu Sud Karnad, Managing Director, HDFC Ltd, said, “The ongoing market disruption in the mortgage industry calls for a focused commitment to digital-led reinvention of customer experiences, which we believe will be pivotal to driving future growth.”
“By taking a cloud-first approach, HDFC will be able to leverage the power of digital innovations and embed AI-driven insights throughout their lending lifecycle. The platform will also serve as a template for additional, new customer services and capabilities, all made possible by a cloud-based digital core, which is essential for enterprise reinvention,” said Sonali Kulkarni, who leads financial services in India for Accenture.