Kristina Tånneryd, Head of Products, Skandiabanken

Capgemini has announced a collaboration with Skandiabanken, the banking arm of the savings and investment products provider Skandia. The central part of the collaboration being LUX (Lending User Experience),  the bank’s new digital mortgage lending product which has been designed and implemented by Capgemini.

LUX was designed by Capgemini using Pegasystems’ (unified digital process automation and case management platform) Pega Platform.

“Capgemini’s project with Skandiabanken was completed in less than 12 months, which beats the benchmark of the fastest mortgage lending origination implementation. It has been an exciting journey to collaborate with Skandiabanken through this implementation and we could not be more pleased by the results of the team effort to date,” said Kiran Shah, Head of Financial Services, Capgemini in Sweden.

According to the supplier, the automated mortgage processing system will be instrumental in the facilitation of a competitive origination process, optimization of business processes, enhanced customer experience, reduction in manual workload as well as in operational risk. It also aims to enable Skandiabanken in enhancing its market position with relevant mortgage offers to the Swedish market.

“Our new LUX digital mortgage lending platform enables our customers to receive faster decisions about their mortgages with increased transparency, at competitive rates. With LUX, customers can have the decisions on mortgage commitments and mortgages in days and for some, minutes. Our work with Capgemini has resulted in a simplified and automated mortgage process that will improve customer experience and enhance customer satisfaction,” said Kristina Tånneryd, Head of Products, Skandiabanken.

Sweden-based Skandiabanken offers payment services, securities trading services, deposits, and lending in the form of home mortgages, private loans, account lines of credit and credit card credits, and securities-based credits. It is a wholly owned subsidiary of Skandia Insurance Company Ltd.

by Megha Bhattacharya
Market Analyst at IBS Intelligence