Main business challenges are:

• To integrate separate departments into world wide system,
• To speed up loan processing,
• To create a loan origination system for online loan processing that is a source of loan data for many other systems,
• To track workflow of the origination process,
• To create a pipeline and a quarterly reporting system,
• To organize Securitization and Rate Lock processing,
• To reduce credit risk by reducing delays in loan origination process,
• To increase transparency and consistency of loan origination process,

The Solution:

Luxoft was able to take over the existing system and build up a comprehensive yet flexible solution to address quickly changing business needs. Luxoft has established proper communication and development processes required for the projects of this magnitude.

A number of new mission critical applications were delivered:

• Web-based application allowing multi users access to the loan origination system that allows tracking of the loan origination process, closing loans, making Rate Locks, making securitizations. Delivering these features was crucial to the project success.
• Reports generating using different reporting frameworks
• Integration with many other bank systems Luxoft has built a highly available and scalable solution that meets ambitious goals set by the bank. The application is currently used in all bank locations across Americas, Europe and Asia. The system is currently being used by over 500 users.