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Globally, government mandated forbearance provisions are providing interim relief to financially distressed retail borrowers amid the COVID-19 crisis. While this is the need of the hour, lenders anticipate a surge in loan defaults in the post pandemic world, which will lead to a large influx of hardship resolution requests. Banks and financial institution will therefore have to scale up to manage the increased workload owing to looming defaults and forbearance fallouts. It is imperative for banks and lenders to consistently apply loss mitigation policies and explore viable workout options, while keeping operating costs down.

TCS Solution

TCS’ Loss Mitigation Solution is a secure, cloud-based collaborative platform that connects distressed borrowers and loan servicers for an end-to-end loan workout and loss mitigation. The borrower self-service channel is backed by an intelligent workflow agent and decision engine to streamline and expedite the entire process. The solution enables borrowers to apply for hardship resolution and avail applicable workout options instantly and promotes uninterrupted engagement between borrowers and agents.

Backed by a robust rule-based engine, TCS’ Loss Mitigation Solution enables detailed financial fact gathering, thereby driving informed decision making. Features like digital signature, AI tools for data ingestion, API based financial data verification, and automated decisioning ensure faster workout processing. The underlying platform for agents and underwriters enforces consistent compliance to loss mitigation policies and delivers efficient task and workload management, ensuring higher throughput.


With TCS’ Loss Mitigation Solution, banks and lenders can accrue a range of benefits, such as:

  • Early borrower outreach and enhanced loss mitigation rates
  • Reduced operating cost with minimized paperwork and low inbound call volumes
  • Straight through processing for faster turnaround times
  • Greater participation from the borrower and more transparency
  • Better borrower engagement and education with guided steps to complete application
  • Anytime, anywhere access for borrowers

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