Our experience of implementing large-scale lending system transformation for banks and financial institutions has revealed some commonly observed challenges. Banks and financial institutions carry significant baggage, which eventually ends up hampering the lending transformation process. This can be in the form of the existing complex business processes and dependency on multiple disjoint systems. The transformation of their lending operation cannot move forward without an understanding of the existing intricacies of the legacy
set-up.

Amidst all this, managing humongous amounts of legacy data and its flawless migration to the new platform is a sizeable undertaking that presents its own set of challenges. Also, managing a lending transformation is just not about the existing infrastructure, processes, and data assets. It also has a human component which has to be factored in.

The white paper explores and gives an in-depth perspective on some of the key challenges that affect large lending transformation program.