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Home›Online business research›HDFC partners with Accenture to digitize lending

HDFC partners with Accenture to digitize lending

By John K. Morrell
June 2, 2022
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TNN
Mumbai: HDFC has partnered with Accenture to digitize its lending business using a native cloud platform with digital workflows for application, processing, credit underwriting and disbursement.
In addition to being cloud-based, the housing finance company will deploy machine learning, automation and advanced analytics to make it a direct, paperless process for the customer. “Continued market disruption in the mortgage industry requires a focused commitment to digitally reinventing customer experiences, which we believe will be key to driving future growth,” said HDFC MD Renu Sud Karnad.
The move to digitize lending comes at a time when the mortgage company is working on a merger with its banking arm. HDFC Bank has digitized all of its loans and recently announced a 30-minute car loan.
The platform includes a user-friendly mobile app and a web portal for customers. Developed using human-centered design principles, the intuitive mobile app and web portal will enable native digital experiences and significantly reduce the time required for customer onboarding. They will also provide customers with real-time visibility into the status of their home loan application and other related service requests anytime, anywhere.
In addition to the digital platform, HDFC will deploy a mobile application with a specially designed and entertaining user experience to enable its sales force and distribution partners to track leads and serve customers in real time.
“By adopting a cloud-first approach, HDFC will be able to leverage the power of digital innovations and integrate AI-powered insights throughout their lending lifecycle. The platform will serve also a model for additional new services and client capabilities, all enabled by a cloud-based digital core, which is essential for business reinvention,” said Sonali Kulkarni, who leads financial services in India for Accenture. .

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