Case Study: a private bank in Asia reduces loan turnaround times and costs with Virtusa and Pega

a award-winning private bank in Asia cuts loan turnaround time by 60% with Virtusa

Virtusa helped an award-winning private bank in Asia overcome its challenge of a slow, manual, and paper-intensive loan application process. The bank's legacy system resulted in high error rates and a loan disbursement turnaround time of over 45 days, which hindered its competitiveness and customer experience.

The solution implemented by Virtusa was an end-to-end loan management system built on Pegasystems. This digitized and automated the bank's processes, providing real-time insights and streamlined workflows. As a result, Virtusa helped the bank reduce costs by $3.3 million over five years and slash its loan disbursement turnaround time by 60%, while also increasing its capacity to handle more cases.