Loan Factory
As retail loan volumes grow for lenders across India and interest rates fluctuate and even become lower due to aggressive competition thereby affecting margins, new ways of managing cost need to be found - from increasing the proportion of variable costs to getting more out of the processing technology infrastructure.
The loan factory has moved from concept to reality with banks seeking consolidation of the loan processing back-office so that branches refocus on sales and strengthening customer relationships.
CoreLogic offers lenders seeking to consolidate its loan processing back office, a SaaS based loan factory that maybe adapted according to their growing business needs. The loan factory solution is localized from functional components used by CoreLogic to successfully support back office operations of leading lenders across the US. The solution's flexibility allows the lender to avail basic pay-per-use services or with additional services designed to convert additional fixed costs to variable:
- Only the SaaS based loan factory application
- Application and the technology infrastructure
- Application, technology infrastructure and staffed facility
- Fully equipped securely partitioned shared loan factory facility
A financial institution gets various benefits from an outsourced loan factory. These include:
- A variable cost model without upfront fixed costs
- A proven technology platform that is well integrated and operational
- A model that delivers based on predetermined and agreed Service Level Agreements (SLAs)
- A technology platform that keeps getting enhanced and refreshed to suit the changing market requirements
- A reporting format and structure that ensures that the top management in a financial institution gets sufficient insight into the volume and quality of loans disbursed and their repayment performance
- A platform built on the best practices of global financial institutions