Our credit advisory solution – Another successful milestone in WIR Bank's digitization offensive
We have developed a modern credit advisory tool for the WIR Bank in only two years. The application allows the generation of individual financing proposals and credit offers with all types of products, for both private and enterprise customers. Offers accepted by the customer turn into credit applications, which are reviewed by the credit office and approved by a corresponding instance. The final steps are done by the credit processing department, which is responsible for the creation of the contractual documents and the payment of the loan.
The front office deeply appreciates the efficiency with which credit applications can be now created. Also the fact that all internal regulations and directives are checked during execution makes the work much easier. In this way, offers can be prepared quickly and yet all standards are adhered to. The customer receives a rapid reliable statement about the feasibility of his financing and the contract documents are handed in a significantly shorter time.
Also the back office benefits from the new solution. The quality of the credit applications has improved significantly. Less rejections due to formal errors and less second review rounds have brought speed to the process. The approval instances are automatically notified about ready credit applications and the authorization procedure is done within two clicks.
All modifications and status changes are recorded and serve as a comprehensive data basis for analyses of any kind. The knowledge gained allows to regularly check the process quality and to optimize product strategies.
The solution is standardized to the extent that it works smoothly with the connected systems, such as the core banking system Finnova. At the same time, it offers the desired flexibility to react quickly to future requirements.