Business Challenge

Many financial organizations come with a set of challenges when making credit decisions. Moreover, the process of conducting credit analysis is still paper-based, error-prone and time-consuming. Only by applying automation technologies can banks assess the creditworthiness and make this process sound. Not only does it help them increase productivity and save cost, but they can also deliver better and faster services to their customers by eliminating manual and paper-based loan approval procedures. Looking to streamline the credit decision processes, our client wanted us to develop and implement a new banking solution that would automatically identify borrower’s creditworthiness and grants of credit.

Solution & Approach

When working on the project, our specialists conduct in-depth research and engage in detailed consideration of each stage of the credit analysis process. This allowed them to see how an automation solution can improve and standardize loan procedures. We managed to develop a web-based banking solution that provides a bank with automatic credit analysis and decision-making processes. Not only does it help the bank to optimize workflow with automated data capture and objective decision-making criteria, but it also supports procedures of automated pricing and credit approval. Thanks to its well-structured architecture with flexible configuration, a banking solution can be integrated with the bank’s internal and third-party systems. Moreover, stakeholders could gain a better understanding of loan processes using the most relevant metrics, generated by the latest insights from real-time bank reports and statements.

Business Result

• A web-based banking solution improved credit analysis by 95%.
• Sophisticated algorithms implemented increased the accuracy of credit decisions by 88% that resulted in more granted credits.
• Developed banking solution prevented creating duplicate records of the same data and delivered a 35% increase in operational processing.
• A web-based solution facilitated global regulatory banking standards.