Our client, one of the largest European banks, provides a wide range of financial services to customers across the continent. They sought to improve their agricultural loan process, which was facing multiple challenges due to its manual and time-consuming nature. The bank needed a solution that could quickly adapt to market changes, automatically measure process KPIs, and provide support for automatic credit score and credit decision-making.
Revolutionizing Agricultural Loan Processing for a Top European Bank
The primary challenges faced by the client were the inefficiencies in their manual loan process for agricultural loans. This made it difficult for them to respond to market changes promptly. Additionally, the lack of automatic measurements of process KPIs and the absence of support for automatic credit scores and credit decision-making further hindered their loan processing capabilities.
By implementing the proposed solution, the client experienced a significant improvement in their loan processing efficiency, allowing them to process loan applications in under 120 minutes. Rapid evaluation of farmers based on relevant criteria became possible using DMN for credit scoring, ensuring accurate risk assessment for each application. The solution also enhanced risk control at all stages of agricultural activities, providing a safer lending environment.
The entire lending process, from application to repayment, was automated, streamlining the workflow and reducing manual intervention. This improvement led to a better customer experience, with support provided for both branch advisors and online channels. The agile system allowed for new features to be deployed every two weeks, keeping the bank’s services up-to-date and responsive to market changes.
Real-time monitoring of the loan process at every stage offered transparency and increased business efficiency. The fully digitized document management system provided authorized users with convenient access to important information. Furthermore, the agricultural financial software generated target-specific business intelligence reports, enabling the bank to make data-driven decisions.
About Business Process Management System (BPMS) platform
Using the Decision Model and Notation System (DMNS) platform allows for storing decision logic and creating business rules based on it, which can also be used by external applications. These business rules are kept in the DMNS, 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 outside the BPMS platform, which improves the efficiency and effectiveness of the engine and gives greater flexibility when creating new rules and deleting the 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, saving time and faster adaptation of the solution to emerging business needs.
We employed a combination of advanced technology and solutions to address the project challenges. A microservice architecture was chosen for its modularity and scalability, while a low-code platform with Angular was used for the user interface, offering a seamless and responsive experience. Spring Boot was used for backend development to ensure a robust and reliable infrastructure.
Decision Model and Notation (DMN) was implemented for credit scoring, allowing for accurate risk assessment and quick evaluations. A business process management suite was used for process automation, streamlining the entire loan processing workflow. Finally, a new CI/CD pipeline was established to develop and deploy updates and new features rapidly.
The transformation of the Agro loan processing system through advanced technology and solutions enabled the client to serve their agricultural customers better. The result was improved operational efficiency, reduced processing time, and an enhanced customer experience.