Tag: Credit Process

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Loan Process Management System for Corporate Clients

In the part of banking focused on selling products to corporate clients, flexibility, wide availability across multiple sales channels, quality, and speed of service are becoming increasingly important—especially in the lending area. Clients expect a personalized approach, clearly presented conditions, and a true partnership mindset. To meet these expectations, banks need tools that enable them to operate efficiently, in compliance with regulations (e.g. product terms, sales campaigns), and with maximum security. In one of our projects for a major banking institution, we were tasked with designing a solution to support the entire credit process in all its complexity—from the initial offer to the disbursement of funds—for various types of corporate clients and decision-making paths. The Challenge: One System, Many Paths and Processes The bank needed a system to manage the entire lending process, including product-specific workflows, subprocesses, parallel processes, and automatically resumed flows b...

A fast and secure credit process requires advanced tools

Financial monthly “BANK”: today’s consumer is highly demanding, expecting at the same time security, convenience and 24-hour availability of banking services. How to create the tools responsible for credit processes to be able to meet both the customer’s expectations and the regulatory requirements? Jakub Rabong: We are dealing with the coexistence of four stakeholders: regulators in the broadest sense, end customers, banks as funding institutions and, of course, IT solution providers who develop systems according to banks’ requirements. Their collaboration to set and respect the standards of modern banking makes it safe, simple and able to benefit each of these four entities. The thing is, in the online world, ensuring a high level of security in the credit area faces a number of challenges. For example, there are systems, even several years old, which have not always been properly updated and adapted to the dynamically changing infrastructure. This results in some events in the bank’s oldest...

Credit systems and the central system in Banks

Credit systems can be presented as a set of solutions supporting the assessment of customers, transactions and risk when making decisions whether to enter into a contract or its further course. Examples of such solutions are our VSoft Credit and VSoft Rating products. In addition, systems responsible for credit processes can connect to other systems to deepen the analysis or provide added value to the assessment, e.g. using VSoft Connectors. Where is the central system in all this? Were does its name come from? What is it and what tasks does it perform? You will find it all out in the article below Terminology and scope of activity The central system is the main application (including its modules) that manages transactions, portfolios, customer data, products, collateral, accounting and settlements in the Bank. Of course, each bank may have a different, dedicated solution tailored to the scale and scope of its operations. However, let us assume for further work that there is currently one application...

Back-office processes in banks

When dividing the bank into process owners and their contractors, we must not forget that they operate within the organizational structure and competences assigned to positions/areas and tasks, resulting, among others, from strategic goals, KPIs or quality requirements etc. Due to its importance, each process can be carried out by one or more units or internal structures operating within a department or office. Joint arrangements and defining what is the beginning and end of the process are key to identify the responsibility and set SLAs. In the context of the arrangements that affect all structures in the bank, in particular some of the back office, servicing or, simply, operations/support processes, this division is extremely important. What operational processes are and what they are responsible for Operational processes affect every activity and one can say that they concern all structures within the company, from sales, through risk, to debt collection and human resources. But what really are op...

Usability design principles – UX in online credit processes

User experience (UX) wykorzystywane jest w procesie budowania wartości dodanej dla naszych klientów tj. użyteczność, łatwość, przyjemność w obsłudze oraz posiadanie specyficznego flow, które przyciągnie do naszego produktu i pozostawi na kliencie dobre wrażenia. Wykorzystujemy to m.in. w takich procesach jak: nowoczesna bankowość elektroniczna, procesy ofertowania, zdarzenia posprzedażowe i wszelkie inne, w których klient jest wykonawcą pewnych czynności w naszym środowisku. Jakimi zasadami powinniśmy się kierować, projektując procesy onlinowe dla banków, czy też dla innych instytucji finansowych? Co to znaczy – bazować na wymaganiach i głosie klienta? Czy jest nam to potrzebne? O odpowiedzi poprosiliśmy eksperta w sprawach UX i gorącą zwolenniczkę przekładania wymagań klienta na język „wdrożeniowców” Magdę Równicką – project managera ze świata bankowości, która od kilku lat z sukcesem wdraża projekty, bazujące m.in. na badaniu jakości, projektowaniu zwin...

Online in credit processes

I need a loan of PLN 5,000. I go to the app of my bank / loan institution on my smartphone, I do not log in because my image does it for me, the basic products and an icon with the available financial limit are displayed – I click. A new form with a zipper appears, I play with it and in my mind’s eye I see new possibilities. Encouraged by the great-looking offer, I choose PLN 15,000. I keep clicking, something appears… What is it?… 🤔 I let go… and keep clicking. Ooh, new funds in my account. Nice 😊 I get e-mails and text messages with thanks. Great! An important story… What we defined a dozen years ago in dark design rooms, with litres of coffee drunk and many brainstorms, crawling with topics such as SixSigma / Opex / Lean, etc., led us towards maximizing sales, defining customer-centricity in the organization and how to maintain it. The slogan “constant optimization” alternated with the word “process.” We knew that the deeper we go into automation, the less jobs the organ...