LIC Housing Finance launches ‘Project RED’

LIC Housing Finance Ltd has launched “Project RED” (Reimagining Excellence through Digital transformation) to improve efficiencies at every level of the organisation. Project RED aims to create value across the entire spectrum of stakeholders that includes employees, shareholders, business associates, existing and potential customers of LICHFL, as per the housing finance company’s statement. To be implemented over the next 21 months, the company said the initiative is expected to bring transformational changes by organically linking LICHFL’s work culture, strengthening processes across all verticals, deepen customer engagement and adopting the best-in-class technology to build capacity. LICHFL has engaged Boston Consulting Group as its consultant for this project and will be setting up a high-level Project Implementation Group which will approve and monitor capacity building plans of every constituent in the company, it added. Siddhartha Mohanty, MD & CEO, LICHFL said, “We are investing in this project with long term objectives that would generate more stakeholder value, expand geographies thereby contributing to the economic growth of the country. “The ultimate objective is to organize and automate every facet of customer interaction to deliver elevated customer experience”.