A 5-minute loan process

Business Challenge

A leading Australian bank wanted to simplify the process of applying for credit cards and personal loans, including providing a mobile-optimized experience.

Infosys View

As consumers increasingly prefer to engage with banks that offer the robustness of traditional services delivered using the latest technologies, a mobile-optimized experience is a baseline expectation for all banking services today.

Business Outcomes

• Online loan application process reduced from 15 minutes to about 5 minutes
• Instant decision on loan application, compared to previous 2-day waiting period

And more…