Aiming to do 95% of labor by means of the digital mode, mortgage lender LIC Housing Finance has launched Project RED (re-imagining excellence by means of digital transformation). The corporate plans to implement it within the subsequent 21 months. The lender has engaged Boston Consulting Group (BCG) as its advisor for this venture. The lender stated its enterprise was again to pre-Covid ranges in September, and it expects the momentum to proceed with the onset of the festive season.

Siddhartha Mohanty, MD and CEO, stated, “September was the best compared to any other September. I believe this momentum will continue till November due to festive season.”

The corporate expects double-digit development within the present monetary yr. On Project RED, he stated, “Currently, 40% of work happens through digital mode and the company aims to increase it to 95%.” This venture will end in value optimisation, he added. The lender, in session with BCG, will probably be establishing a high-level venture implementation group which can approve and monitor capability constructing plans of each constituent within the firm. It additionally proposes to make sure a uniform method to managing and regulating your entire gamut of operations of the corporate by means of collaboration of all purposeful departments.