Financial Services, Providing Loans

 

Business

Business process management for financial services: providing loans

 

Problem

Manual and paper-based processes for creating loan documents and review requests that were inefficient and time consuming

 

Beneficiaries

Loan agents and staff, senior management.

 

BPMS based solution

When a customer applies for a loan, all data is collected through  a business process management systemر  The system then sends the loan application to the customer service unit . The movement of the request throughout the system, informing the beneficiaries about the assigned tasks and ensuring the decision time is completely automatic. Inter-employee monitoring and automation means that person-to-person processes are improved, the ability to track loan applications is required for immediate action, and accelerates loan application processing, deadlines and other requirements for customers. The system, information technology, information collected from other applications, such as  tools for customer relationship management  to analysis and case management Automatically combines help allocating resources to assigned tasks. This program increases the accuracy of the work and reduces the time required to execute and process each loan application, and thus has a significant impact on business efficiency.

 

Advantages

In a short time, the whole lending system has changed from a paper system to a fully automated system. In the past, employees spent time and resources filling out paper forms and printing andcollecting customer requests Now, forms and processes are all online. Business process management  is highly efficient and provides the ability to follow up on applications through the entire loan approval system, so it can be determined which activities need to be done and whether the loan will be delivered by the deadline. In addition to these effects, employees and customers benefit from Business process management  solution . Because employees no longer need to spend a lot of time and paper reviewing requests, customers receive more time and attention from employees.