E-maginative - Case study: GMAC-RFC residential funding

e-maginative delivers market-leading on-line mortgage decisioning system: GMAC-RFC sees on-line applications soar.

GMAC-RFC, who trade as GMAC Residential Funding, are the UK’s 12th largest mortgage lender.

GMAC embarked on a major change programme to move from traditional postal applications and manually underwritten lending decisions to an internet browser based point-of-sale system.

The new system would enable mortgage intermediaries to key applicant details in order to provide a binding lending decision in less than 60 seconds.

To this end, the board set the following objectives:

• Deliver an easy to use internet, browser based system for intermediaries to capture applicant details and receive lending decisions
• Deliver a robust decisioning engine, with real-time links to credit reference and fraud detection partners
• Enable a binding lending decision to be given in less than 60 seconds
• Provide suitable mechanisms for ensuring the quality of decision making
• Upload decisioned applications to the central mainframe system automatically
• Enable intermediaries to view the status of an application
• Re-engineer existing business processes in order to maximise efficiency gains made from the move to automated decisioning.

e-maginative solution

e-maginative managed all aspects of the programme including both the technical and business change aspects.

What made the e-maginative engagement a success?

• Early establishment of a clear set of business objectives
• The e-maginative programme manager having sole responsibility for delivery of the business objectives
• One programme team focused on delivering the business objectives
• Focus on business change, rather than technology
• Strong business-wide communication
• Departments across the business actively involved in the programme.

The resultant system achieved significant growth in sales with more than 20,000 applications in the first three months. It also delivered major operational savings across the business.

Core methods employed

• Prince II
• Managing Successful Programmes

Core supporting technologies

• Microsoft Windows Server
• Microsoft .NET
• Web Services
• ASP