Financial Services

Digital lending transformation planning & design 

Financial Services
  • Complexity Diagnostics
  • Project Management
  • Solution design

Our client was a Sydney-based mutual banking organisation that values its members and puts their interests first, providing quality banking, loan and investment services to the community for more than 60 years.  

The challenge

The client aimed to enhance its home loan application process through a lending digitalisation project using an independent loan origination solution, to streamline the process and maintain a leading service standard. Despite the potential benefits, challenges arose from delivery complexity, cost and timing uncertainty, limited experience in this type of project, and limited visibility of the deeper business process and people impacts. Addressing these challenges during the planning and design phase was crucial to set up the client for a successful implementation of a streamlined loan origination system and effectively aligning systems with the process and the behaviour of their team.  

The approach

To guide the client towards a successful transformation, Escient was engaged to initiate the planning and design phase of the project. Escient’s approach centered on defining project scope, complexity, and requirements, including a comprehensive assessment of the client’s current state and readiness to undertake a project of this nature. Escient collaborated closely with member-facing specialist and technical staff to review existing processes and co-design an optimal future state.  

Key activities:
  • Documented existing home loan application processes and user experiences, to a standard aligned to the needs of the solution provider.  
  • Conducted workshops with key stakeholders to outline the desired customer experience and detailed project outcomes.  
  • Assessed program complexity, offering detailed recommendations to reduce complexity and manage complexity-based risk.  
  • Crafted an advanced project plan featuring a realistic delivery schedule and recommended resource forecasts, to reduce risk of overruns from unanticipated scope.  
  • Presented solution design options and future state performance aligned with the project’s planned outcomes.  

The outcome

Escient’s collaboration during the planning and design phase of the project yielded substantial benefits for the client. Notably, scope, requirements and expertise were precisely defined, laying a foundation for streamlined home loan applications and improved member experiences. As a result, resource implications were better understood, and accounted for in cost and resource forecasts, limiting future board requests. The project also equipped the client with a practical roadmap towards the desired future state, including all major elements of the solution, founded on a thorough understanding of process, resource, and change impacts. This effectively mitigated several major potential risks and ensured the client’s confidence to progress into the implementation phase.    

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