Business Case
Improve strategic effectiveness and operational efficiencies for dynamic Eastern European bank
Business Challenge
Within months of launching its retail business the bank became a significant player in sales finance, offering personal loans, credit cards, automotive and mortgage lending. The bank has always been committed to robust risk management and the highest standard of customer service. It used scoring models to assess customers as part of the credit underwriting process in order to provide a robust statistical assessment of customers.
The Decision Analytics answer
Following an extensive vendor review, the bank chose Experian to deliver its New Business SM system to automate and manage origination decisions throughout the business. The New Business SM system automates and streamlines the origination decision-making process, reducing operational costs, increasing the accuracy of the decisions and enhancing risk management across the bank.
The Benefits
- Decreased application processing time by 30% with a streamlined process
- Enhanced customer service with accurate decisions delivered faster
- Controlled operational costs and reduced the need for manual underwriting resource by 50%
- Reduced data errors by 10 times enabling more accurate scoring, decisions and risk management
- Control in the hands of the risk team with the ability to rapidly and easily implement new strategies
- Rapid system and strategy implementation to realise benefits quicker
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