Leading consumer lending company
Driving financial innovation at a national lending company.
A Vietnamese consumer lending company partnered with Credera to drive financial innovation using Pega, resulting in faster loan processing, reduced origination times, and enhanced customer experience.
At a Glance
A leading Vietnamese consumer lending company, recognized for its significant role in eliminating black credit, serves over 10 million customers. With over a decade of experience, the company has established a robust consumer finance economy in Vietnam and was looking at modernizing its loan origination processes to stay competitive and meet evolving customer expectations.
The Challenge
Staying competitive and meeting evolving customer expectations.
The company partnered with Credera to integrate Pega capabilities into their loan origination system, enabling faster processing and disbursement of loans and credit cards. Our comprehensive solution included seamless omni-channel interaction, ensuring zero downtime for future upgrades and providing a unified customer experience across all channels. It facilitated rapid time-to-action, significantly enhancing customer satisfaction with quick turnaround times. The Pega frameworks deployed in this solution included Pega PRPC, Pega Customer Service for Financial Services, and Pega Cosmos UX.
The Solution
Real-time decisioning and flexible workflows for enhanced customer experiences.
The implementation of the Pega frameworks enabled the delivery of several critical microjourneys, including collections management, customer service management (CSM), and upgrade & cloud migration.
Addressing key challenges, we streamlined processes by unifying multiple teams and improving service-level agreements (SLAs). This included automated case management, which minimized turnaround times for onboarding customers and processing change requests.
We enabled the migration of cross-sell, top-up loans, and credit cards to the Pega application, while introducing flexibility to onboard new products, thus maintaining a competitive market positioning. Additionally, we integrated a non-Pega-based lead management system with the company's in-house mobile application.
The solution entailed complex integrations with third-party and back-end core systems, as well as seamless connections with various credit analysis systems. We reduced the cost of on-premise infrastructure by facilitating flexible and scalable cloud migration, ensuring a cohesive and efficient operational framework.
The Results
Transforming loan processing and the customer experience.
The results of the implementation drove significant business impact:
Efficient loan processing - 35,000 loan applications processed end-to-end daily using Pega LOS
Reduced loan origination time - From 14 days to less than 3 minutes
Automated loan decisions - 90% of loan decisions automated within 30 seconds of application submission
Rapid onboarding to disbursement - Reduced time to 20 seconds
Extensive Pega adoption - Over 4,000 users with more than 30 million cases created
Quick TAT for disbursal - Less than 30 seconds for loan or credit card disbursals
High Disbursal Capacity - Handling up to 5,000 loan/credit card disbursals per day
Robust integrations - Over 20 seamless integrations with third-party systems
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