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Discover Home Loans: Distributed Work and Digital Lending

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10 March 2021
Craig Focardi

Winner of Celent Model Bank 2021 Award for Operational Excellence in COVID-19 Response

Abstract

This Model Bank report uncovers how Discover Financial Services quickly adjusted to the challenges the pandemic created by enabling its agents to work remotely and providing more digital options for borrowers to originate loans safely and conveniently. Its business strategy and execution demonstrate how financial institutions with digital operations, flexible technology, and strong partners can thrive throughout business cycles and weather the potential negative headwinds a market driver may bring.

Discover Home Loans (DHL) transformed its centralized operations to decentralized remote work for 99% of its onshore and offshore staff within two weeks. It also accelerated planned technology and process changes to provide alternative loan appraisal options, remote loan esigning, and loan forbearance options for customers.

Click on the video link below to listen to a Craig Focardi, Celent's Senior Analyst in Retail Banking, discuss this Model Bank, and to download the PDF of a detailed case study.

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