NBFC giant, HDFC has announced the collaboration with global information technology services and consulting firm, Accenture to digitally transform its lending business. The tie-up will revamp HDFC’s customer experience and business processes to provide greater operational agility and efficiency, and drive business growth.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
About the collaboration:
- The collaboration is aimed at making HDFC’s lending lifecycle paperless and nimble. HDFC highlighted that a key element of the program is a cloud-native lending platform with digital workflows for every step of the customer journey including application, loan processing, credit underwriting and decisions, disbursement, and loan servicing.
- It leverages a machine learning-based decision engine aimed at improving risk mitigation and driving agility by standardizing the credit underwriting process.
- Further, the platform includes a user-friendly mobile application and a web-based portal for customers. Developed using human-centric design principles, the intuitive mobile application and web portal will enable digital-native experiences and significantly reduce the time taken for customer onboarding.
- Also, the platform will offer customers real-time visibility into their home loan application status and other related service requests anytime, anywhere.
Important takeaways for all competitive exams:
- HDFC Bank Ltd MD & CEO: Sashidhar Jagdishan;
- HDFC Bank Ltd Establishment: 1994;
- HDFC Bank Ltd Headquarters: Mumbai, Maharashtra;
- HDFC Bank Ltd Tagline: We Understand Your World.