Today, U.S. financial leaders are talking about one thing: what’s the cost of not innovating. And the outlook confirms it; Credit unions struggle to offer personalized service without sacrificing agility, regional banks face pressure from tech giants, and mortgage lenders are desperately seeking to reduce loan origination times.
The common denominator in these challenges for financial institutions is a digital transformation process that no longer responds at market speed. Then, digital and technological empowerment shows up as the only way for institutions that want to lead and improve the lives of members and clients, as well as the business process.
Digital transformation for banks and credit unions: more than a technology upgrade
Adopting a digital transformation approach is a change in mindset that involves moving from operating as functionality factories to becoming true value generators, where success is measured by the real impact on the business and the customer experience.
This change requires a partner who speaks the language of banking, credit unions, and mortgage lenders. Pragma has positioned itself as that strategic ally, with validated capabilities and a pragmatic approach that ensures tangible results.
This is how we do it:
A digital transformation process requires a connected ecosystem where data flows securely and efficiently. Through the design of scalable integration architectures and robust API governance, Pragma enables new business and monetization opportunities.
This allows connecting legacy systems with modern platforms, for instance, by integrating the Core banking system with a CRM to achieve a unified customer view , or orchestrating various payment platforms to ensure seamless and secure transactions. This capability also streamlines communication between the loan origination system (LOS) and third-party validation services, transforming the entire infrastructure into a strategic asset.
Intelligent automation is a key tool for optimizing operations. Manual tasks such as data entry or credit application processing can be automated, reducing approval times from days to hours. By having faster processes, customer satisfaction will be much higher.
This can happen to mortgage processes, where standardization of underwriting can decrease default rates by up to 30%.
We see the cloud as the foundation on which the competitiveness of the future is built. It’s the pillar that makes it possible to boost digital transformation processes and create digital platforms capable of serving millions of users with high scalability, security and ensuring the resilience that the financial sector demands.
We work with companies in the modernization of their digital assets so that they stop being simple tools and become engines of growth. We don’t just seek to make your platforms more scalable, secure and efficient; our goal is to redesign their functionality so that they respond with agility to market dynamics. In this way, we ensure that each technological investment translates into a sustainable competitive advantage and a better experience for people.
Data is a defining asset. Its true value lies in transforming it into decisions that generate real impact. Our work focuses on turning transactional and aggregated data into a clear source of insight.
We connect strategy, data and technology with a single purpose: to design solutions that improve the lives of end users. Our work is about going beyond the implementation of tools; we harness the power of advanced analytics, Machine Learning and Generative Artificial Intelligence to transform operations.
This allows us to personalize experiences, streamline processes and, above all, enrich decision making so that it is based on evidence. To achieve this, we have experts in modern data architectures and advanced analytics that design and implement customized systems, ensuring that each piece of technology translates into real and tangible value for your business.
Once data speaks to us, artificial intelligence (AI) allows us to act in a more intelligent and personalized way. As a Gen AI Competency Partner at AWS, we use AI as a tool to empower human capabilities and improve the customer experience.
This materializes in two ways. Internally, it automates tasks and boosts team productivity. Outwardly, it enables the creation of products and services that anticipate user needs, offering personalized experiences that build trust and loyalty. Because the best technology is the one that feels human.
Digital platforms: where value is delivered
At the end of the day, value is delivered through digital platforms that solve real problems. That's why our job is to design, implement and maximize the growth of digital solutions tailored to demanding industries such as finance and retail.
We provide you with specialized UI and UX design teams that focus on creating exceptional end-user experiences. We combine proven strategies with leading technologies to ensure that each platform works and solves needs, generates loyalty and delivers tangible value to both the business and the people who use it.
Pragma's approach Digital transformation for banks and credit unions
The path to transformation is complex and full of regulatory and technical nuances. Therefore, Pragma's approach to digital transformation for banks and credit unions is based on experience and precise execution. We apply deep knowledge to build solutions that really work.
With over 30 years of experience transforming companies and a deep understanding of banking regulations and challenges, Pragma has demonstrated its ability to lead complex transformations. This leadership has been officially recognized by AWS with the Financial Services Competency, a validation only granted to partners with proven expertise in financial verticals and measurable results.
Transforming a banking process, optimizing the digital operations of an insurer and improving biometric processes for a bank have shown Pragma's ability to understand the business and convert it into impactful technology.
Three success stories that make us proud
- Digital transformation in the mortgage origination process: A leading private real estate lender had a mortgage origination process that was manual, slow, and prone to errors, affecting broker efficiency.
Pragma created a complete web solution design on Azure Cloud that includes smooth connections with third-party services. It also offers full process traceability for better decision-making.
With this, cloud provisioning time was reduced from 3 weeks to just 3 days, and the solution was decoupled from external integrations, providing the business with greater agility and scalability for the future.
- Onboarding optimization for a Florida bank: For a bank in Florida, the onboarding and account opening process represented a significant friction point, with a high manual workload and a fragmented customer experience. Pragma's solution was strategic: a process consultancy was conducted to diagnose the current state (AS-IS) and, from there, a future flow (TO-BE) and a reference architecture were designed that integrated automation, digitalization, and cohesion between systems.
The impact was direct and measurable: a 65% decrease in manual tasks in the process was achieved, which not only optimized the bank's operational load but also radically simplified and improved the experience for the new customer.
- Modernization and profitability: the case of Lima One Capital's mortgage platform: Lima One Capital needed a modern, scalable mortgage origination solution that could adapt to diverse broker networks and borrower types. To respond to this challenge, Pragma performed the end-to-end deployment of its mortgage origination system (MOSS), integrating it with key platforms such as Encompass, Optimal Blue and the borrower and loan officer portals.
The results of this implementation demonstrated a direct and measurable impact on the business. There was a 50% reduction in the use of email for management, a 44% increase in the application-to-submission conversion rate, and an 18% increase in the closing rate. These achievements translated into a $5.1 million year-over-year increase in expected profit for the company.
Are you ready to build the future of your institution?
The time to react has passed. The opportunity now lies in leading, anticipating customer needs, and building a sustainable competitive advantage. Digital transformation is a true investment in the future of the institution.
If your organization is ready to stop adapting and start defining the pace of the market, it's time to talk.
Let's start now!
