Digital Transformation of credit deposits
Client
Large financial institution operating in the banking sector (top 5 banks in Poland) expecting increased automation in the area of credit instructions
Expectations
The client expected an increase in automation in the area of issuing credit instructions in order to reduce costs on the Operations side. One of the ideas was to introduce handling of instructions in the Internet channel.
Project
The client decided to meet the growing market expectations in terms of handling credit instructions:
- early loan repayment,
- change of the account for loan repayment
- Suspension of loan installment payment
- extension of the loan period,
- change of the repayment date
Instructions submitted so far in the Bank's branches are made available from the level of electronic and mobile banking, relieving the Bank's branches and giving consumers greater and easier access to the product. In addition, after the production launch of the functionality, in 2020, after the COVID pandemic, customers began to massively submit applications for installment suspension. The Design Team quickly responded to the client's needs by automating Backoffice, which handled 80% of the basic cases.
Results
After the implementation, customers began to use the new functionality on a mass scale, which significantly reduced the costs of handling the process, as well as increased the sales volume. The introduction of a simplified credit risk assessment and omnichannel procedure improved the customer experience.
Info
Sector
Banking
Service
Automation
of business processes
Technologies
Java, JavaScript, BPM
