Case Studies
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The Challenge
One of the world’s largest multi-national financial service providers has 14 operating companies and over 20 unique and disparate loan origination systems in use in various countries around the world. These systems were very difficult to manage and maintain due to lack of consistency and usability. They had no means for universal delivery to local operations organizations, and implementing changes was labor and cost intensive. The management team decided to implement a credit decisioning system that would provide the flexibility needed for all the different nuances of international distribution. They envisioned a system that could be managed centrally from the US while allowing other countries to use local credit rules and processes. The new system would allow the bank to share common interfaces to internal and external data sources such as credit bureaus and customer master files. The new system would also enable use of local languages for employees and customers.
The Solution
The financial services company selected the Provenir Platform - Global Edition and decided to use a phased approach to implement their global operations model. They will use the Provenir Platform as the cornerstone for underwriting and originations throughout the world. The first loan originations configuration was built for Taiwan. It included corporate policies and interfaces to corporate systems, data bases and local third party data providers. The business logic and interfaces that were built for Taiwan will be leveraged in other countries. The configuration will continue to evolve as each country’s implementation proceeds, and will provide the foundation to create and enforce the bank’s regional and global operating models.
The Provenir Platform - Global Edition helped the financial services company define and execute origination processing that is consistent with corporate policies as well as with local guidelines. Its ability to allow users to work with common business logic and system components in their local language made global collaboration a reality. The bank was able to lower operating costs and increase efficiencies by allowing for better use of limited human and computing resources.
The Benefits
The Provenir Platform – Global Edition provides the bank the cost management and scalability they require to achieve their goals to expand into new markets while minimizing costs. The platform’s ability to re-use business rules and processes across products significantly reduces development and maintenance costs. The graphical nature of setting up workflows provides the flexibility that is required in dealing with the international marketplace. The Provenir Platform will enable the financial institution to provide excellent credit services to new customers around the world.
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An Automated Loan Origination System for a Major Multi-National Financial Services
Organization
The Challenge
One of the world’s largest multi-national financial service providers has 14 operating companies and over 20 unique and disparate loan origination systems in use in various countries around the world. These systems were very difficult to manage and maintain due to lack of consistency and usability. They had no means for universal delivery to local operations organizations, and implementing changes was labor and cost intensive. The management team decided to implement a credit decisioning system that would provide the flexibility needed for all the different nuances of international distribution. They envisioned a system that could be managed centrally from the US while allowing other countries to use local credit rules and processes. The new system would allow the bank to share common interfaces to internal and external data sources such as credit bureaus and customer master files. The new system would also enable use of local languages for employees and customers.
The Solution
The financial services company selected the Provenir Platform - Global Edition and decided to use a phased approach to implement their global operations model. They will use the Provenir Platform as the cornerstone for underwriting and originations throughout the world. The first loan originations configuration was built for Taiwan. It included corporate policies and interfaces to corporate systems, data bases and local third party data providers. The business logic and interfaces that were built for Taiwan will be leveraged in other countries. The configuration will continue to evolve as each country’s implementation proceeds, and will provide the foundation to create and enforce the bank’s regional and global operating models.
The Provenir Platform - Global Edition helped the financial services company define and execute origination processing that is consistent with corporate policies as well as with local guidelines. Its ability to allow users to work with common business logic and system components in their local language made global collaboration a reality. The bank was able to lower operating costs and increase efficiencies by allowing for better use of limited human and computing resources.
The Benefits
The Provenir Platform – Global Edition provides the bank the cost management and scalability they require to achieve their goals to expand into new markets while minimizing costs. The platform’s ability to re-use business rules and processes across products significantly reduces development and maintenance costs. The graphical nature of setting up workflows provides the flexibility that is required in dealing with the international marketplace. The Provenir Platform will enable the financial institution to provide excellent credit services to new customers around the world.
- Loan cycle times cut by 50%
- Increased flexibility in recruitment of local staff
- Simplified IT infrastructure
- Increased customer satisfaction
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