Wholesale Risk Management Solution for One of Top 20 World Banks

In 2012, Infopulse’s client started looking into the development of a modern, complex and functional solution to automate car lending and risk management processes. The solution had to facilitate work with dealers, partners, insurance companies, SMEs and corporate clients, who need to obtain the credit for bulk purchases of fleet vehicles. With legacy solutions in place being almost 25 years old, their support did not justify the costs – maintenance required specific expertise, which was almost extinct from the market. Besides, the outdated systems and approaches slowed down the work of the risk management department. Each decision required a massive amount of manual efforts and deferred communication with multiple participants of the conciliation process. All this caused enormous delays and unnecessary complications in the approval of new credit limits or any other related common banking procedures.

• The main aim was to create a modern solution, which would be relevant for the next 20-30 years without any issues with further scalability, integration, maintenance, and support.
• Existing ready-made solutions did not suit the business growth model of our customer due to poor customization capabilities and the high price of support. The solution in question had to be developed fully from scratch.
• The project required a top level of technological expertise in the architecture of banking systems.
• As a core requirement, the uncommon core banking functions had to be detached and moved to the external systems.
• Infopulse also needed to create a convenient functional interface for decision-making platform and underwriter solution, and integrate all applications with banking and external systems.
• The waterfall model of product development, so far used by the bank internally, slowed down the product time-to-market. Consequently, new products, functions, and features could become irrelevant even before the project finish.
• In this project, Infopulse team needed to collaborate closely with multiple departments of the bank as well as with the external suppliers of banking solutions, which required a properly aligned communication management process from Infopulse team.
• Infopulse experts had to work within the development environments of the customer’s headquarters, which made the whole process more complicated, e.g., when they needed to gain access to customer’s data and enterprise resources.

Infopulse’s client received a modern risk management system for automated wholesale and loan application processing, bringing bank’s business a number of benefits, namely:

• The time required for decision-making processes was reduced from a week to an hour.
• The probability of human error was lowered by approximately six times.
• Accelerated customer servicing, increasing the number of processed loan applications, improving customer loyalty and boosting revenue growth.
• Much better time-to-market.
• Vastly reduced costs for licensing, integration and servicing – approximately, 10 times lower TCO in comparison to existing software products available on the market.
• Ensured ease of support with improved scalability, minimum risks and low expenses on maintenance.
• The bank can whitelabel and resell this solution to its clients and partners.

As of 2019, the project was deployed successfully, and will be finalized by the end of the year. Infopulse will continue providing support, and will then migrate and integrate this solution for the new branch of the bank. The system architecture will be altered and customized in accordance with the local processes and environments. Upon implementing these changes, Infopulse will also update the solution for the main branch of the bank.