This customer’s systems for loan applications, approval and settlement have a historical development. They include several systems that have to be operated individually and, moreover, are enhanced by Excel and Access tools developed by the bank.
The result is a conglomeration of individual solutions which had, on the one hand, different interfaces, navigation and capture logics and which, on the other hand, make it necessary to capture the same or similar data several times.
The challenge: Optimising the lending processes – fast go-to-market implementation
Not only the growing variety of IT systems but also the timely launching of product variants on the market led to an increasing demand for an efficient and future-proof IT solution for the lending operations of this customer. Moreover, deployment of resources was to be optimised to reduce the costs and time required for each loan application or processing step.
“The aim of introducing a new application was to map the existing process design in terms of IT support and to automate it using workflow support. Moreover, data quality should be improved by significantly reducing the need to capture data multiple times.”
Modern multi-tier technology was the first choice
It ensures process-oriented processing of lending operations – from the application to the payment. It thus supports more than 200 independent banks in the business areas “retail and standardised corporate loans”. The state-of-the-art modular lending solution provides an open architecture and SOA-compliant components.
“One of the main requirements for the new lending system was that the operating system should place no restrictions on the development of new, market-oriented products. FERNBACH’s solution enables the bank to quickly develop the products that they want to market and that their customers need.”
Three key factors contributed significantly to the success of the project:
- Open interfaces for easy integration into existing system landscapes
- Standardised procedure model with short project duration
- Modular structure of the solution customised to the bank’s needs
After an implementation phase of less than one year, the project team put the solution into productive operation.
- Elaboration of offers
- Calcuation of income
- Borrower assessment
- Cash flows, instalments, interest rate calculation, repayment scheme, calculation of charges
- Examination of documents (check, follow-up)
- Real estate and other collateral
- Foreign currencies,
- Syndicate members
- Overdraft facilities & limit checks
- Reports, printing of documents
- Authorisation rules
- Blacklist, Schufa
- Group directory
- Data warehouse
Benefits for this customer
Processing time for applications reduced from 1 hour to 20 minutes
Due to process optimisation, the unit costs for each lending application could be reduced significantly.
Optimised use of resources and increased productivity
Loan applications can be processed more efficiently now. All relevant application data are available at any time via mouse click. Free capacities could be used for other actions, e.g. consulting.
Shorter time to market
Innovative financing structures and products are made available to the bank’s customers in the shortest time possible. Thus new lending products, e.g. database for products, terms and conditions, can be placed on the market quickly.
Modular structure enables further individual developments
If required, new functions can be added quickly to the lending solution at low cost.