Streamlining Mortgage Applications: AccelOne’s Custom Software for a Multinational Financial Institution

Business Requirement:

The client needed to replace an outdated mainframe system that processed mortgage applications. The system had become inefficient and was difficult to maintain due to the growing data requirements and lack of available developers for legacy technology.

As a result, our client decided to upgrade its mainframe applications to web applications.

Initially, our client contracted another company that underperformed on the project, generating errors and critical delays that required them to seek out a new team to complete the project.

Business Solution:

AccelOne developed a web-based application that integrated with the client’s core business systems. The solution allowed loan operators to follow the entire mortgage approval process, from initial data collection to final approval.

The chosen solution was a system that would allow lending operators and credit officers to follow all the credit approval processes, from the beginning of a loan application from the prospective borrower, through to the last point of approval to fund the applicant.

Technical Solution:

The solution was built using Microsoft .NET platforms with XML messaging between the back-end and front-end interfaces. The application was designed with a three-tiered architecture, ensuring scalability and integration with the client’s existing mainframe systems.

Approach:

AccelOne implemented a modular development approach, releasing the first version after three months for QA testing on real-world data. The final version was deployed after six months, with subsequent versions improving user experience and performance.

A team of 10 nearshore resources was configured to execute the project, which included a project manager, team leader, architect/DB expert, senior business analyst, (5) senior .NET developers and a senior web designer/UX expert.

The Results

The new system significantly improved the mortgage application process, increasing efficiency and reducing processing time. The solution was successfully regionalized for several countries, and is still in use today.

AccelOne’s custom software solution modernized the mortgage application process for the client, delivering enhanced functionality, scalability, and user experience, with long-term business impact.