Flowee & VeloBank – Credit Process Management

Client

VeloBank – a financial institution providing modern and transparent financial products, simple procedures, and fast, competent service.

Expectations

The client sought to implement a modern workflow system that would allow corporate clients to apply for credit products and guarantees entirely electronically while eliminating email communication.

The goal of the project was to implement an end-to-end (E2E) process with full digitalization, reduce application processing time (Time to Decision and Time to Market), enhance customer satisfaction, and provide a tool that enables the rapid deployment of new products and functionalities.

Project

The challenges faced by the project team included, among others:

  1. Replacing traditional paper documentation with electronic communication while eliminating the email channel for document exchange.

  2. Ensuring a high level of security.

  3. Integration with existing banking systems and the bank's internal databases.

  4. Implementation of an intuitive client portal enabling communication between the client and the advisor, two-way document exchange, and submission of credit applications.

  5. An extremely short project timeline of 5 months.

To meet the challenges, the system was based on a proprietary BPM-class system. Flowee – built by Finture. The functionality provided by Flowee, such as process modeling, defining decision rules, and easily creating advanced forms, enabled prototyping, refining the process, and incrementally expanding the scope of data processed in the system. The challenge of aligning multiple business units within the bank (Product, Sales, Risk, Back-office) was addressed by dividing the work into separate streams, while a professional, results-oriented approach allowed for efficient work in such a complex environment.

Results

The Finture team implemented a comprehensive workflow, covering the following stages of the process:

Initiating the application by the Client Advisor.

  • The advisor logs into the banking system and initiates the application process.
  • The system generates a notification for the corporate client through the client portal.

 

Electronic completion of the application by the client.

  • The corporate client receives a notification via email and on the portal.
  • The client fills in the required data and submits documents (e.g., financial statements).
  • The portal enables automatic generation of the credit application and its electronic signature.

 

Verification and analysis of the application by the bank.

  • Automatic data validation in the system.
  • Assigning the application to the appropriate specialists (sales, credit risk, etc.).
  • Integration with the bank's internal databases, as well as BIK and KRD, for credit history and creditworthiness verification.

 

Credit decision

  • After a positive verification, the client receives a notification of the decision on the portal.
  • In case additional documents are required, the system generates tasks for the client.
  • Signing the contract and finalization
  • The client gains access to the documents in their portal.

Info

  • Sector

    Banking

  • Service

    Automation
    of business processes

  • Technologies

    Flowee

  • Key figures

    5

    Project duration
    in months

    72

    forms

    62

    manual tasks

    10

    business rules

    13

    implemented processes

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