The imperative for financial institutions (FIs) to continuously add new technology capabilities drives them to evaluate existing systems to modernize, opportunities to reduce technical debt, and processing costs to reduce. Lending operations are a primary example, where multiple loan origination systems and digital channel solutions support different types of retail loans. Prior attempts to create enterprise loan origination systems have often failed due to weaker technology capability than is available today. But still, the transformation challenge is great.

ICICI Bank has created an enterprise lending platform that has begun to consolidate multiple loan types on one platform.