Case Study: FHLBank Chicago achieves same-day funding with Slalom

Federal Home Loan Bank of Chicago Delivering same-day funding with modern software

The Federal Home Loan Bank of Chicago needed to modernize its outdated loan processing system, which required a significant amount of manual work and prevented it from offering efficient self-service options and same-day funding to its members. The bank partnered with Slalom to rebuild its core underwriting platform and modernize its eBanking portal, aiming to streamline operations and improve the member experience.

Slalom co-created a new underwriting platform and modernized the eBanking portal using a tech stack that included .Net Core, Angular, and AWS infrastructure provisioned with Terraform. This solution automated key processes and provided members with real-time visibility into their loans. The results were immediate; on the first day post-launch, the bank processed 60 transactions totaling $8 billion. Slalom's work enabled the bank to successfully launch a new product during the COVID-19 pandemic and now 85% of loan advances are originated through the self-service portal.

FHLBank Chicago

Mike O’Malley

Vice President, Banking Administration