Our client, a Fortune 500 Government enterprise, deals in purchase and guarantee of mortgages in the secondary market. After acquiring huge, toxic assets, the client faced massive losses in the 2008 mortgage crisis. Post the meltdown, a slow road to recovery made them realize that they needed a more robust business model with built-in ability to withstand bubbles and busts.
Being a key player in the Government-led Credit Enhancement Program, our client faced oncoming capacity constraints with estimates of running out of credit by the end of 2016.Operations were also hampered by outdated technology, flawed processes and production issues like;
- Legacy nature of credit enhancement platform
- Monolithic architecture of application
- Slow speed to market
- Manual-intensive processes
Hexaware partnered with the client for the Enterprise Data Transformation project and carried out application migration to cloud that was one of the most advanced, complex and sophisticated migrations in the industry.
Leveraging automation we helped the client with value adds worth;
- $6 million in 2017, and
- $3 million in 2018
