All Case Studies

Enabling insights-driven growth for housing finance businesses with a dashboard-first solution

A leading financial services provider in India envisioned optimizing its housing finance operations with a robust reporting dashboard.

Improved customer experience

Faster loan processes

Increased efficiency & productivity

Data-driven operations

Enabling insights-driven growth for housing finance businesses with a dashboard-first solution

Overview: High operational visibility for better competitive edge

The housing finance industry in India has witnessed drastic changes in recent years owing to digital-native market disruptors, economic upheavals, and phenomenally evolving customer expectations as well as behaviors that have altered the dynamics of efficiency, productivity, and value. Gaining data-driven agility in face of these evolving factors has become an urgent imperative for the housing finance businesses, outlining a strong need for the decision-makers to have strategic visibility into all aspects of operations.  

The Bitwise client is a leading housing finance services provider part of a Fortune 500 group of businesses in India that wanted to streamline and optimize the entire operations for better customer acquisition & experience and improved market share. The company envisioned a solution that can offer high visibility to executive decision-makers into the business health throughout the entire housing loan lifecycle. 

Challenge: Build a robust reporting solution with a dashboard-first approach 

The company’s existing legacy systems, complex workflows, and sub-processes demanded the involvement of multiple parties at various stages of the loan lifecycle. This posed various efficiency, productivity, and security challenges for the company without having clear visibility into the entire loan lifecycle from customer acquisition to loan disbursement. It led to the company encountering the following obstacles in absence of a centralized reporting solution: 

  • Existence of multiple reports at various hierarchies leading to inconsistency 
  • No clear visibility into critical business performance parameters such as target achievement, bottlenecks at each stage of the loan lifecycle, and resource consumption despite having timely transactional data 
  • Manually created and distributed reports prone to flaws and inaccuracies 
  • Lack of consolidated, data-driven insights for immediate & long-term business impact 
  • Delayed decision-making 

Bitwise proposed a dashboard-first approach that would help the client company focus on its immediate business goals through a centralized summary reporting dashboard while setting a robust premise for an underlying data architecture ecosystem.  

The client’s perspective: Why Bitwise 

The housing finance company’s urgent goal of accelerated data-driven decision making and resultant business outcomes demanded strong expertise and experience in shaping robust data ecosystems and advanced frameworks for faster and more efficient execution. Bitwise brought the following key capabilities to the partnership: 

  • 25+ years of experience in data-driven digital 
  • Extensive experience in the financial services domain 
  • Advanced data engineering and analytics solutions & prebuilt frameworks 
  • Expert technology talent  

The Solution: The single version of truth for accelerated decision making 

Bitwise proposed a ‘dashboard-first’ strategy which included creating a robust, industry-driven reporting dashboard before building a whole underlying data architecture ecosystem, to meet the client company’s urgent need for more efficient decisioning through transformed visibility into various stages of a loan lifecycle.  

We leveraged the Microsoft Power BI platform to build and deploy a well-designed reporting dashboard that would provide a centralized summary report for the entire loan pipeline with the ability to drill down into specific details on demand.  

The key steps of the solution included:  

  • Integrating data from various data sources and designing a user-friendly dashboard 
  • Generating automated reports with superior data visualization 
  • Ensuring role-based security access to various stakeholders with contextualized report view for the specific user 
  • Ensuring easy and secure access for mobile devices 

The dashboard offered two types of automated reports for the entire housing loan lifecycle from Customer Procurement to Loan Disbursement:  

Overall Summary Report to provide a complete view of the business pipeline included: 

  • Fresh Login Trends 
  • Target Vs Actual  
  • Prelogin Counts 
  • Disbursement Counts, Sanction Rates, Insurance Penetrations 
     

Individual Team Specific Reports to track the team performance included:  

  • Location-wise and Team-wise Performance  
  • Turnaround Time (TAT) of Various Departments during the Loan Processing Cycle 
  • Ageing Sales, Disbursement Status  

The Bitwise solution offers the following key features: 

  • High scalability & flexibility 
  • Configurability & Customization 
  • Seamless integration of data from diverse enterprise systems 
  • User-friendly interfaces 
  • High security & control 
  • Cost-effectiveness 

 
The Result: Data-driven business outcomes for better efficiency & profitability 

Faster time to value has been a critical goal of business leaders in the era of digital agility and scale. However, meeting this goal despite legacy systems and manual workflows blocking the path to value has been difficult and cost-intensive. More often than not, business leaders have been facing the burden of building the entire data and analytics ecosystem with complete underlying data architecture which can consume critical time & resources and hinder the immediate imperatives of the business until the said ecosystem is ready.  

Using a dashboard-first approach to kick-start the journey of data-driven decision-making, the Bitwise client paved the path to achieving both short-term and long-term business outcomes. The business leaders in the organization utilized the new reporting dashboard designed by Bitwise to gain a comprehensive perspective of their operations on-demand and optimize various functions with specific visibility into bottlenecks and challenges for each team. The solution also opened new possibilities for further refined analytics initiatives with incremental development of the overall data ecosystem.  

With the new reporting dashboard, the Bitwise client achieved: 

  • Improved loan lifecycle process 
  • Optimized turnaround time for each team 
  • Enhanced efficiency & productivity 
  • Reduced manual dependency 
  • Better customer experience & retention 

Technology 

  • Microsoft PowerBI  
  • Tableau 

RELEVANT Reads

The rise of low-code and the potential of Microsoft Power Fx

Perspective | August 19, 2021

The rise of low-code and the potential of...

In recent months, technology adoption has soared across India, with an increased focus on the rapid optimization of processes…

Read more

Charting the course for a different and better future

Perspective | March 30, 2021

Charting the course for a different and better...

2020 will probably go down in the history as the most unpredictable year mankind has…

Read more

Staying ahead of the curve with Predictive Analytics

Perspective | February 23, 2021

Staying ahead of the curve with Predictive Analytics

“In God we trust; all others bring data.” – W. Edwards Deming Long gone are…

Read more