VeloBank in Poland has announced the implementation of a digital process for SME lending. The primary objective of this initiative is the complete digitalization of the lending process for SME customers. Concurrently, the bank aims to expedite the handling of loan applications and enhance customer satisfaction, underpinned by a modern workflow system.
The project is designed to offer customers an application that facilitates the submission of loan applications and the addition of documents in the simplest manner possible. This application ensures that the data acquired is utilized throughout the entire process, thereby eliminating the need for users to repeatedly input information.
Equally critical is the provision of comprehensive support for the entire internal process of handling loan applications within a single solution. The project encompasses various sub-processes, including the initiation of the credit process, the completion of required data and documents by the customer, the generation of a loan application with an electronic signature in the customer panel, and the subsequent verification of received documentation. Additionally, it involves the preparation of a loan application and credit decision in electronic form within the application, where data from the Customer Panel is transferred and supplements these documents. The final step involves making the credit decision within the application.
The same application serves as the operational foundation for all participants in the credit process at VeloBank, ranging from the credit advisor and business analyst to all units involved in the process. This comprehensive approach led to the creation of the VeloFlowee credit process.
“We viewed this project as an opportunity to transform our technology and introduce a new architecture that would provide us with new development opportunities. We looked for the solution that would enable us to achieve the business goals of this project while also offering extensive customization and further development opportunities for our organization,” stated Marcin Morawski, Director of the Application Development Department at VeloBank.
Simplifying the processes related to handling documentation and utilizing a central repository of digital documents, without the need for copying or scanning, was also crucial for VeloBank. This transformation reduced the workload and expedited the handling of credit applications. Moreover, the ability to easily access all documentation related to the credit handling process proved to be valuable for customers.
