Digitalization of the Wholesale Credit Process utilizing AI
A German Landesbank commissioned us to further digitize and automate their wholesale credit process, incorporating Artificial Intelligence for the first time. The project objectives were to enhance the efficiency of capturing corporate customer credit transactions and improve the wholesale IT landscape.
The following services were provided for the digitalization of the credit process:
- Identification of improvement potential in collaboration and close coordination with the requesting departments in the wholesale business.
- Feasibility analysis and assessment of the business and technical requirements.
- Updating of the current processes and definition of the target model within the process modeling framework.
- Coordination of software implementation:
- In an agile project approach, an in-house developed application with an Artificial Intelligence (AI) component was launched on a large cloud computing platform.
- Configuration and parameterization of API interfaces and workflows, both from a technical and functional perspective.
- Preparation of necessary documentation and support for functional testing during software implementation and subsequent releases.
- Process optimization through automated data retrieval from sub-systems via API interfaces.
The solution and key benefits
The client is now able to capture extensive corporate customer credit agreements nearly fully automatically and in a very short time in the leading system LoanIQ:
- With the assistance of Artificial Intelligence, defined data points from the captured contracts are analyzed.
- Due to the frequency of consistent results in the analyzed contracts, the AI improved its accuracy from an initial 60% to 95%.
- The system-required data is automatically supplemented with data from sub-systems and prepared for new business creation.
- Transfer of the results to LoanIQ now occurs in just a few seconds via API.
Furthermore, by connecting or developing interfaces, the heterogeneous data sources have been channeled and structured. Apart from reducing non-value-added and manual activities, the digitalization of the process facilitates and accelerates the capture of new wholesale transactions, allowing the bank’s corporate customer division to scale more effectively in the future.