Nationale-Nederlanden Bank, the fifth largest Dutch bank, is looking to hone its mortgage loan servicing and origination processes with Celonis Process Mining.
Speaking at Celonis World Tour 2022 Amsterdam, Hans Buursink, Head of Mortgages & Consumer Lending at Nationale-Nederlanden Bank, outlined the company's process mining efforts.
The lessons from Nationale-Nederlanden Bank are notable for mortgage lenders in the US given interest rates are rising and demand is falling for refinancing. As a result, mortgage lenders are seeing operating margins squeezed and will have to boost efficiency.
According to Buursink, Nationale-Nederlanden Bank has 13 main processes in regular loan servicing and 1 main process for loan origination. Each process has multiple sub-processes and countless variations and the bank runs more than 500,000 cases through those processes each year.
Buursink said the bank turned to process mining to improve its Net Promoter Score (NPS), improve efficiency, lower costs and gain more insights. Nationale-Nederlanden Bank started the RFP process for process mining in August and signed a contract in December with Celonis.
Nationale-Nederlanden Bank kicked off the process mining implementation in May and expects to be operational in August.
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