Streamlining Bulk Loan Onboarding and Servicing Process Using Blockchain
A foolproof governance system enabled by blockchain can stem systemic misconduct
The mortgage servicing and default management industry is under tremendous pressure to enhance its loan onboarding and servicing processes. Key priorities for industry players include containing costs, improving service levels, capturing new business, and increasing profitability, while ensuring regulatory compliance. However, lenders are faced with a slew of challenges: paper-centric manual processes, robo-signing, dual-track foreclosure, and so on.
We believe digital technologies can prove immensely helpful in countering these challenges.
- Blockchain can help establish a strong governance system
- RPA can improve operational efficiency
- Cloud can foster scalability and flexibility of systems to tackle the humungous volumes of data
Brought to you by Tata Consultancy Services