Australia's Leading Bank Invests in Technology to Boost Market Share
Relying on an outdated, inflexible personal loan system, the Commonwealth Bank decided to consolidate this environment with its more robust home loan system, providing customers with a modern, one-stop resource for interactive loan management. HP brought the vision to fruition.
The transformed loan system now lets customers produce statements, calculate variable interest rates and redraw funds paid in excess of their loan commitments via a market-leading redraw facility.
With enhanced personal loan management functionality, the bank expects to reap higher approval rates, faster decision-making and funding, and greater product differentiation. In addition, features like risk-based pricing and flow-on benefits set Commonwealth Bank apart from others in the industry.
Download the full version: Commonwealth Bank of Australia (Personal Loan System) Case Study
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