USA
Belgium
France
UK
Australia
India
Singapore
Client Background
A leading financial institution serving a diverse clientele, from individual consumers to large corporations. With a vast array of banking, investing, asset management, and risk management services, this institution is a beacon of trust and innovation.
Client Need
The institution’s mortgage servicing landscape was a mosaic of 32 applications, each on disparate technologies and platforms. This fragmentation led to:
- Complex integrations, with some systems using outdated technologies lacking integration capabilities
- Rising maintenance costs, year over year
- Performance and stability issues, threatening service continuity
- Tedious business rule management in legacy systems, hindering efficiency.
Our Solution
The transformation was monumental:
- Unified Platform: 32 legacy applications were migrated to a single Pega platform, enhancing integration and eliminating downtime.
- Process Automation: Foreclosure referrals, breach, and compliance letter generation processes were automated using Pega’s robust features.
- Streamlined Business Processes: Introduction of auto queue management and process flows simplified operations.
- Batch Job Optimization: All batch jobs were transitioned to Pega, improving performance and maintainability.
- Data Archival: Implementation of Pega’s auto archival process ensured compliance with Infosec, GRM, and regulatory guidelines by purging unused data.
Key Benefits
The transformation yielded remarkable results:
- Cost Efficiency: Application costs were slashed by 40%, and infrastructure expenses were halved.
- Workforce Optimization: A 40% reduction in workforce was achieved without compromising service quality.
- Maintenance Simplification: Application maintenance efforts were reduced by a staggering 80%.
- Performance Boost: Enhanced application performance and stability virtually eliminated job failures.
- Workflow Simplification: Business monitoring of referral reviews and letter generation became more efficient.
- System Integration: Improved system integration reduced data wait times, accelerating service delivery.
- Lightweight Data: High-performance, lightweight data architecture was established, paving the way for future scalability.
This story is a testament to the transformative power of technology and the vision of a financial institution that dared to reimagine its future.
Tools & Technologies
Pega
19C
Oracle Database
IBM WebSphere
Kafka
Linux
