About the Client
Our client is a large Credit Union company based out of Texas
that is delivering exceptional financial services while
investing in the community through financial education programs,
service initiatives, donations and helping Texans SAVE, BORROW
and INVEST since 1931. They’re the professionals who've been
trusted by generations of North Texans to finance their new car,
truck or SUV. Customer has grown to more than $2 Billion in
assets, serving more than 147,000 members in all 50 states.
Challenge
Easy access to credit platforms resulted in a large volume of
loan applications, which continued to grow daily and caused
unsettling backlogs. There is a considerable increase of manual
document movement to various divisions throughout the processing
of any loan. Most of the loan procedure, which includes
underwriting, validation, and manually verifying loan
applications, and checking eligibility. This made the process
time-consuming, laborious, and prone to errors.
They wanted to make the entire loan application process more efficient so that the traditionally used manual method would be replaced with an automated system that would augment human operations.
They wanted to make the entire loan application process more efficient so that the traditionally used manual method would be replaced with an automated system that would augment human operations.
Solution
DIATOZ monitored the entire loan management system and
identified key areas for automation. An end-to-end Mulesoft
solution process was articulated to enable the customers to get
their loan eligibility amount, Interest rates based on their
CIBIL Score, and not only that it sends out structured data to
CRMs.
The Mule application was designed to integrate with the SymXchange that let the third-party vendors, credit unions, and JHA products provide the ability to access the Episys database. The solution allowed third-party vendor applications to perform transactions, inquiries, file maintenance, and run PowerOn spec files on member accounts and their CRM system(Salesforce).
The Mule application was designed to integrate with the SymXchange that let the third-party vendors, credit unions, and JHA products provide the ability to access the Episys database. The solution allowed third-party vendor applications to perform transactions, inquiries, file maintenance, and run PowerOn spec files on member accounts and their CRM system(Salesforce).
Benefits
Customer saw a significant improvement in the turnaround time taken
to process the loan applications, and meet their customer needs
quicker. In addition, the Mule application helped to reduce
errors and improve accuracy, as it eliminated the need for
manual data entry.
