LIC HFL launches Project RED - 'Re-imagining Excellence thru' Digital transformation', Onboards Boston Consulting Group as consultant

LIC Housing Finance Ltd today launched Project RED - Reimagining Excellence through Digital transformation with an aim to improve efficiencies at every level of the organisation. To be implemented over the next 21 months 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 also proposes to ensure a uniform approach to managing and regulating the entire gamut of operations of the Company through collaboration of all functional departments.

Speaking at the launch of the project, Mr. Siddhartha Mohanty, MD & CEO of LIC Housing Finance said, "It is a privilege to partner with Boston Consulting Group (BCG) as we firmly believe that best minds bring in best solutions for businesses. Our distinguished experts will help us to gain insights and navigate LICHFL towards the goals and values in the new normal and thereby creating virtuous cycle of business and profits for future."

Mr. Mohanty further added "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. Winning will require a new play book. The ultimate objective is to organize and automate every facet of customer interaction to deliver elevated customer experience".

Project RED aims to create value across the entire spectrum of stakeholders that includes employees, shareholders, business associates, existing and potential customers of LICHFL.

Shares of LIC HOUSING FINANCE LTD. was last trading in BSE at Rs.286.65 as compared to the previous close of Rs. 282.3. The total number of shares traded during the day was 253158 in over 4944 trades.

The stock hit an intraday high of Rs. 293.45 and intraday low of 283. The net turnover during the day was Rs. 73308697.

Source : Equity Bulls

Keywords