Shorten the TTY in loan application review process
The canonic process mining was applied in order to understand why the loan approval delays and the bank looses clients
Key figures
- $ 1 000 000Financial impact
- > 5 000Process instances analyzed
- 3Months project duration
Project annotation
"The project's a win – 20% faster loan reviews, over 1 million Euros in yearly impact. It's a solid boost, making us more efficient and competitive."
Business Challenge:
A leading bank faced complexities in its corporate loan application review, causing customer defection. The challenges included repeated document reviews and delays due to process variations across branches.
Project Implementation:
Leveraging process mining and analysis insights, the bank standardized the process, and streamlined document collection and review. Adjustments in information systems eliminated unnecessary movements of incomplete document packages.
Main Outcomes:
Results were remarkable, with a 20% reduction in process time and an annual economic impact exceeding 1 million Euros. This comprehensive approach not only streamlined loan reviews but also enhanced customer satisfaction and competitiveness.
A leading bank faced complexities in its corporate loan application review, causing customer defection. The challenges included repeated document reviews and delays due to process variations across branches.
Project Implementation:
Leveraging process mining and analysis insights, the bank standardized the process, and streamlined document collection and review. Adjustments in information systems eliminated unnecessary movements of incomplete document packages.
Main Outcomes:
Results were remarkable, with a 20% reduction in process time and an annual economic impact exceeding 1 million Euros. This comprehensive approach not only streamlined loan reviews but also enhanced customer satisfaction and competitiveness.