Capgemini enables digital mortgage processing at Skandiabanken

Source: Capgemini

Capgemini today announced its successful engagement with Skandiabanken, the banking arm of Skandia, marked by the debut of LUX, the bank’s newly transformed digital mortgage lending business.

Skandia is an independent provider of long-term savings and investment products based in Sweden.

LUX, a new automated system for mortgage processing designed and implemented by Capgemini in less than 12 months, makes it possible for Skandiabanken to continue to provide attractive offers for mortgages in the Swedish market.

Additional benefits of the implementation include:
• improved customer experience
• ability to reduce operational risk
• lower costs due to fewer manual steps
• a more competitive and flexible origination process

“Our new LUX digital mortgage lending platform enables our customers to receive faster decisions about their mortgages with increased transparency, at competitive rates. With LUX, customers can have the decisions on mortgage commitments and mortgages in days and for some, minutes. Our work with Capgemini has resulted in a simplified and automated mortgage process that will improve customer experience and enhance customer satisfaction,” said Kristina Tånneryd, Head of Products, Skandiabanken.

Capgemini designed the mortgage solution using Pega Platform™, the unified digital process automation (DPA) and case management platform from Pegasystems, the software company empowering customer engagement at the world’s leading enterprises. LUX was created by Capgemini to optimize the business operations and customer experience of the mortgage offering. The implementation covers the full mortgage business of the bank, including all property types for existing and new customers.

“Capgemini’s project with Skandiabanken was completed in less than 12 months, which beats the benchmark of the fastest mortgage lending origination implementation. It has been an exciting journey to collaborate with Skandiabanken through this implementation and we could not be more pleased by the results of the team effort to date,” said Kiran Shah, Head of Financial Services, Capgemini in Sweden.

“Pega’s mission is to solve complex business issues such as those Skandiabanken faced. Capgemini’s and Skandiabanken’s use of the Pega Platform to develop their solution is another example of how we can help financial services companies evolve their offerings,” said Magnus Lagerqvist, Sales Director - Nordics, Pegasystems. “We were impressed with the innovative approach by Capgemini and Skandiabanken to customize the platform to deliver an in-depth, tailored transformation in record time.”

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