LOAN WORKFLOW AUTOMATION
Our Client is one of the TOP-5 Banks in Eastern Europe. The Bank works with corporate clients and financial organizations, including government agencies and enterprises. The key activities also include fundraising and lending to the population.
CHALLENGES
SLOW CUSTOMER SERVICE
Slow decision-making process restrains the process of new customers engagement.
DISPARATE IT SYSTEMS
Not having a single information space with a unified user interface slows down applications processing and increases the error rate.
SLOW TIME TO MARKET
Lagging behind the competitors in terms of new services launch.
LACK OT TRNSPARENCY
No ways to properly measure and manage the actual process metrics.
TOO MANY MANUAL OPERATIONS
Increase the time and cost of business-processes, lead to additional errors, downtime and inefficient use of resources within the organization.
PAPER DOCUMENTATION
Increases the additional OpEx and poses significant security risks.
There WAS an urgent need to upgrade the existing Microsoft SharePoint solution:
The system did not contain the key functionality to reduce labor costs
The system was not expandable and can't handle heavy workloads
The system could not be used for loan automation and cannot be integrated with key automated bank systems
OBJECTIVES
To reduce Loan Processing Time for legal entities.
To reduce the volume of overdue debt by segment.
To increase the productivity of your customer support team and point of sales.
To reduce time-to-market (time for new products to enter the market).
To reduce document storage cost and paper document destruction cost.
To create a targeted solution, our experts chose PEGA Platform 7.3.1., a BPM platform for creating enterprise-class applications and continuous adaptation to business requirements using low-code tools.
All processes were performed in the following order: Analysis, Design, Implementation, Testing, Integration.
IMPLEMENTED FUNCTIONALITY AND PROCESSES
Electronic document storage system.
CRM system for storing customer information and records of customer interactions.
Credit risk management system.
Automated contract registration and cash handling system.
To reduce document storage cost and paper document destruction cost.
Notification module.
RESULTS
25 %
Faster Loan Processing Time
20 %
Faster Time-To-Market
Risks Reduction
0.25 %
25 %
Increase In Prodcutivity
Reduced Cost of Docs Management