Automating of the loan origination process in the bank

Customer

• An international commercial bank with an extensive network of 300+ branches.
• It serves 190 000+ small and medium-sized businesses.
• More than 1500 large corporate companies.
• And over 1.5 million individuals.

Challenge

The credit application process at the bank was sluggish and heavily reliant on manual input.

• Customer attrition — 15% of clients do not sign a loan agreement and go to another bank to get a loan.
• Unearned profit due to long loan processing.
• Unproductive personnel costs: the large number of people required for the lending process.

The Bank understands that:

1. The terms of making a decision regarding loans and execution of agreements do not meet the new challenges of the market.
2. The control process and the ability to track performance indicators are missing.

Business tasks

01

The Bank aimed to automate and streamline the sales process for small, medium, and corporate businesses:

From initiating a credit application to registering a credit agreement in the Bank's internal system, with the ability to track process performance indicators.

02

Automating customer verification in external/internal systems and customer scoring.

03

Solving the «swivel chair» problem (work in multiple systems/windows simultaneously).

04

Reducing the issuing of a loan agreement to 10 minutes  (from submitting the application to the moment of crediting funds to the card).

05

Implementing of a transparent system for monitoring the loaning process.

Solution

1. We have implemented a customer account that enables online credit applications.  The business processes are optimized in such a way that the system monitors the execution of mandatory actions and processing relevant documentation of the Bank's officials, and it also monitors process indicators.
2. A single point of contact between customers and the Bank has been created using the developed «single window».
3. Customer scoring has been implemented.
4. Integration with the Bank's internal systems and external sources has been established.
5. The lending process to the Bank’s clients (legal entities, individual entrepreneurs) has been automated on Camunda. Also, there is the ability to track SLA and KPI.

Results

• As a result of the system implementation, the Bank has increased revenues  from loaning.
• Loan issuance time was reduced to 10 minutes.
• The number of employees required for issuing loans decreased by 17%.
• The bank has reduced the workload on its branches and provided clients with the opportunity for remote servicing without the need to visit a branch.
• The number of branches has been reduced as clients started using online services.

Recommendations

After implementing the proposed solution, the work of Integrity Vision specialists does not end — by agreement, we can continue our cooperation in the form of system support.

For our clients, we act as a second line of support. We have already provided technical support to many banks after the project’s completion.

Our partnership approach guarantees long-term cooperation!

Inna Soloviova
Co-Founder & CEO Integrity Vision

Feedback

Deputy Chairman of the Bank's Management Board for IT issues

We managed to optimize business processes that used to be a bottleneck for our company. The knowledge and partnership approach of Integrity Vision allowed us to implement online credit applications for small and medium-sized business clients, reduce the influence of the human factor on the registration and processing of credit applications and improve the time for processing client applications. Business process automation in the Bank has exceeded our expectations!

Head of Corporate Sales Management Department

The Integrity team openly shared their knowledge and willingly passed it on to our internal team. They did not limit themselves to performing all the processes on their own. We would also like to emphasize the expertise of the Integrity specialists: during workshops and webinars, they answered all our questions and solved many non-trivial tasks.

Product Owner

The company has been building long-term relationships from the very beginning. The project is being implemented for years to come due to its scalability and ease of the support.