Case Studies
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The Challenge
The Small Business Lending Division of a leading financial institution was having problems meeting the demands of a dynamic marketplace. Their lending operations and portfolio management were spread over several applications consisting of a combination of homegrown and vendor-supplied systems. By all accounts, it was a labor-intensive and error-prone system.
When market changes did occur, they lacked the agility to respond quickly. Multiple systems required updating to modify existing product lines or to launch new products. The process was cumbersome, requiring coordination with several programming teams and extensive integration testing. This cost the bank considerably, not merely in time and resources spent, but in the revenue opportunities lost by getting their products to market late.
The Solution
To improve its lending operations, the Small Business Lending Division turned to the Provenir Platform for its ability to manage the entire customer lifecycle. Provenir’s flexibility allowed the bank to smoothly extend its use to handle portfolio management as well—including renewals and modifications.
Provenir seamlessly did the work of several applications, eliminating internally developed programs and spreadsheets. Additionally, IT personnel were able to quickly configure integrations with thirdparty systems and data providers.
The Provenir Platform helped the bank streamline processes in one of its most critical business functions—managing originations. Approving or declining an application requires strict adherence to local and federal regulations, while observing the bank’s corporate guidelines, policies, and best practices. Using the Provenir Platform, the bank was able to configure rules, assignments, and controls that helped them define and execute origination processing within consistent guidelines.
The Benefits
By selecting the Provenir Platform to manage its lending and portfolio management operations, the Small Business Lending Division was able to lower costs and increase efficiencies by making the best use of their limited human and computing resources. The bank was able to effectively build, deploy, and manage decisioning applications without the worry of additional IT investments. Response time to market changes reduced substantially, as the bank was able to make fast updates to business logic with minimal IT involvement.
Using the Provenir Platform, the bank experienced several immediate benefits:
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Automating Small Business Lending and Portfolio Management
The Challenge
The Small Business Lending Division of a leading financial institution was having problems meeting the demands of a dynamic marketplace. Their lending operations and portfolio management were spread over several applications consisting of a combination of homegrown and vendor-supplied systems. By all accounts, it was a labor-intensive and error-prone system.
When market changes did occur, they lacked the agility to respond quickly. Multiple systems required updating to modify existing product lines or to launch new products. The process was cumbersome, requiring coordination with several programming teams and extensive integration testing. This cost the bank considerably, not merely in time and resources spent, but in the revenue opportunities lost by getting their products to market late.
The Solution
To improve its lending operations, the Small Business Lending Division turned to the Provenir Platform for its ability to manage the entire customer lifecycle. Provenir’s flexibility allowed the bank to smoothly extend its use to handle portfolio management as well—including renewals and modifications.
Provenir seamlessly did the work of several applications, eliminating internally developed programs and spreadsheets. Additionally, IT personnel were able to quickly configure integrations with thirdparty systems and data providers.
The Provenir Platform helped the bank streamline processes in one of its most critical business functions—managing originations. Approving or declining an application requires strict adherence to local and federal regulations, while observing the bank’s corporate guidelines, policies, and best practices. Using the Provenir Platform, the bank was able to configure rules, assignments, and controls that helped them define and execute origination processing within consistent guidelines.
The Benefits
By selecting the Provenir Platform to manage its lending and portfolio management operations, the Small Business Lending Division was able to lower costs and increase efficiencies by making the best use of their limited human and computing resources. The bank was able to effectively build, deploy, and manage decisioning applications without the worry of additional IT investments. Response time to market changes reduced substantially, as the bank was able to make fast updates to business logic with minimal IT involvement.
Using the Provenir Platform, the bank experienced several immediate benefits:
- Increased ROI
- Rapid implementation of credit policy and strategy changes
- Improved communications between sales personnel and branches
- Increased efficiency of loan centers using automatic decision systems
- Consistent lending practices
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