Discover Home Loans' transition from traditional to digital-first lending is not just a strategic move but a market-driven necessity. In today’s rapidly changing financial landscape, the ability to adapt and evolve is paramount. Collaborating closely with Wipro, Discover Home Loans has executed a robust and replicable transformation process, effectively setting a new standard in the mortgage industry. This report delves into the framework of the BPaaS model implemented by Wipro, showcasing how it drives efficiency and customer satisfaction while addressing the unique challenges of the mortgage sector offering significant benefits for modernizing lending operations.

Key Insights:

Strategic Partnership and Collaboration: The synergy between Discover Home Loans and Wipro has been pivotal. This collaboration came together as Discover identified Wipro as the ideal partner, thanks to Wipro’s deep understanding of the mortgage space and technological prowess. By leveraging Wipro’s innovative BPaaS model, Discover Home Loans has been able to navigate the complexities of digital transformation effectively. Identifying the appropriate partner for collaboration is important.

Scalability with BPaaS Model: The implementation of Wipro’s BPaaS model has been essential in achieving scalability for Discover’s operations to meet market demands. This model facilitates not only incremental improvements but a complete overhaul of processes, making scalability a practical reality.

Business Impact: The tangible outcomes of this partnership are significant — 50% lower origination costs, faster processing times, and a digital interaction rate of 90% among customers.

From the Desk of Discover:

Santosh Kumar, Chief Product Officer at Discover Home Loans, states,

“Innovation is at the heart of our transformation strategy. By leveraging a technology-led BPaaS model, we reimagined the entire credit journey, from customer experience to back-office operations. This bold, end-to-end approach has not only enhanced operational efficiency but also set a new benchmark for digital lending in the industry.”