Flowee & VeloBank
Credit process management
Clients expectations
VeloBank – a financial institution providing modern and transparent financial products, simple procedures, and fast, competent service.
The client expected the implementation of 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 the implementation of an end-to-end process and its full digitalization, reducing application processing time (Time to Decision and Time to Market), increasing customer satisfaction, and having a tool that enables the rapid deployment of new products and functionalities.
Project
The challenges faced by the project team included, among others:
- Replacing traditional paper documentation with an electronic form of communication while simultaneously eliminating email as a document exchange channel
- Ensuring a high level of security
- Integration with existing banking systems and the bank’s internal databases
- Implementation of an intuitive customer portal enabling communication between the Client and the Advisor, two-way document exchange, and credit application submission
- Extremely short time for project execution, amounting to 5 months.
To meet the challenges, the system was built on the proprietary BPM-class system – Flowee.
The functionality provided by Flowee, including process modeling, defining decision rules, and easy creation of advanced forms, enabled prototyping, process refinement, and incremental expansion of the scope of data processed within the system. The challenge of coordinating agreements among multiple business units within the Bank (Product, Sales, Risk, Back-office) was addressed by introducing a division of work into separate streams. Additionally, a professional, results-oriented approach allowed for efficient execution in such a complex environment.
Results
The Finture team implemented a comprehensive workflow, covering the following process stages:
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 application completion 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.
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