The Client of the project was a large international bank that offers services in the field of daily banking, personal accounts and credit cards, savings, and loans, as well as in the fields of leasing, investment, and insurance. The bank has an extensive network of its own branches and partner outlets throughout Europe. It is considered to be one of the most innovative banks in Europe, very advanced in electronic banking.
Loan Sales Platform For Small and medium-sized enterprises (SMEs)
What were the challenges faced by the Department of Small and Medium-sized Enterprises in the process of granting loans to clients in the SME sector? Project was related to the low time efficiency of application processing. Multiple manual steps performed by employees in several departments at various stages of the process and lack of comprehensive insight into the process and operation time at individual stages. The project aimed to shorten the processing time of applications by automating the process. Thanks to this it would be possible to release the time of employees and to increase the number of applications handled.
Key Benefits of loan sales Platform
Implementation of process improvement and standardization solutions entails benefits related to operational efficiencies. More accurate customer offering during the initial contact phase thanks to the automatic calculation of creditworthiness, generating a repayment schedule and a personalized list of documents to the application, monitoring the business activity of advisors at the offer stage and creation of a qualitative module for reporting business errors.
Calculation of creditworthiness is achieved by applying a business rules engine that allows the creation of configurable business rules. These can be modified and changed over time. It allows for flexible adaptation of the service to changing algorithms and business procedures at a low cost.
The solution also allows for the validation of the completeness and quality of the data being filled in by the user. It automatically sets the decision paths and generates a list of attachments and printouts of completed forms directly from the application, ready to be signed by the advisor client. Thanks to this project, the Client could discontinue using xls forms to calculate creditworthiness, prepare loan agreements manually, and send applications by email.
About Business Process Management System (BPMS) platform
Using the Business Rules Management System (BRMS) platform allows for storing decision logic and creating business rules based on it. It can also be used by external applications. These business rules are kept in the Business Rules Engine (BRE), which is a set of rules describing certain business logic and procedures. This solution brings many benefits. The main advantage is the separation of the Business Rules Engine outside the BPMS platform. It improves the efficiency and effectiveness of the engine and gives greater flexibility when creating new rules and deleting old ones. The description of rules using clear and understandable language, even for business users, allows more cost-efficient changes without having to involve programmers. Causing saving time and faster adaptation of the solution to emerging business needs.
The Solution Loan Sales Platform
As part of the solution, the process was implemented using BPMS technology. Thanks to that the entire workflow of the process is kept in one place. The application starts from the user interface level (written in Angular). The remaining activities related to calculating creditworthiness and generating documents take place as part of a workflow at BPMS. Red Hat’s OpenShift platform was used to implement the solution. IT allows quick creation, implementation, and updating of applications in a hybrid computing cloud.
The DevOps approach was used to develop the solution. It is characterized by close cooperation, communication and mutual commitment of the software development team (Dev) and the operation group (Ops). This approach also uses an iterative work model that is in line with the Agile assumptions. Thanks to that, it is possible to share existing fragments of code in many iterations. The goal of this approach is to better coordinate work on the final product and shorten the time from the implementation of the application to the first benefits. That enables faster response to change business needs and ultimately increases the quality of the product and Client’s satisfaction.
Implementation of a unified portal for business advisors using the Responsive Web Design technique allowed the creation of the appearance and layout of the web application that dynamically and automatically adapts to the size of the screen on which it is displayed. Using the Single Page Application technique has allowed for dynamically loading various sections and data on the page depending on the context without reloading the page. In addition, collaborative UI design with target users resulted in a clear and intuitive user interface.
What are other functionalities of the solution that are visible and relevant to the end user?
Displaying all necessary decision-making information on one screen provides protection against user errors thanks to many embedded business rules and automates tasks not requiring the user’s decision. Another benefit includes relieving users through automatic field completion from previous screens and generating personalized documents for loan applicants. Lastly, the system is designed to inform users about changes in the application or upcoming significant due dates via e-mail.
Creating new business services, including those containing complex algorithms, was necessary to calculate key business data. For this purpose, a Business Rules Engine (BRE) solution has been implemented, which allows for quick and low-cost modification of rules according to changing business environment. The process also collects statistical data for different stages of application processing. Thanks to this it is possible to analyze both time and quality performance indicators.