Skandiabanken, the banking unit of Skandia, has introduced LUX, the bank’s newly transformed digital mortgage lending business, designed and implemented by French technology firm Capgemini.
Image: Capgemini installs new mortgage automation system at Skandiabanken in Sweden. Photo: Courtesy of Capgemini.
The new mortgage solution has been designed using Pega Platform, the unified digital process automation (DPA) and case management platform from Pegasystem.
Capgemini said that the solution, which was deployed in less than 12 months, enables Skandiabanken to continue to provide attractive offers for mortgages in Sweden.
Skandiabanken products head Kristina Tånneryd said: “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.”
The LUX system is expected to enhance customer experience, reduce operational risk, can lower costs due to fewer manual steps.
Capgemini Sweden financial services head Kiran Shah said: “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.”
In October 2018, the French technology firm acquired a 20% stake in Azqore, a subsidiary of Indosuez that specialises in technology outsourcing services and banking transactions for the wealth management sector.
“The investment confirms the ambition of the two groups in setting up technology outsourcing servicing and banking transactions for wealth management sector and mid-sized universal banks,” Capgemini said.
The stake acquisition is also the result of five years of collaboration between Azqore and Capgemini and exemplifies the synergies in their areas of expertise.
Capgemini believes that its investment in Azqore will help the company in speeding up its functional and technological development of its S2i platform.