"Loans Platform": user experience reaches the bank branches

From origination to renegotiation of credit: contact and interaction between the bank and the client acquire a high experience value.

“When the technology exceeds the basic needs of most of its customers, there is a major change in customer behavior. Emotional reaction, pride of ownership and pleasurability all can become major selling points.”
The invisible computer - Don Norman

Rethinking relations between bank and customer travels through the concept of "user experience", in which all the actions and information that characterize the customer's experience and that come from various interactions with the bank must be "used" to allow a thorough understanding of his needs and expectations.

The entire credit process is characterized, especially during the origination and renegotiation phases, by several moments of contact and interaction between the bank and the customer, all which have high "experience" value.

The project that saw one of the top 5 Italian banks as its protagonist was aiming towards this perspective, with the goal of fully reviewing its loans offer, focusing in particular on the retail and small business area. There are two main pillars:

  • significantly increasing the market share in the mortgages sector
  • standardizing credit processes, integrating all the various underlying applications, with the aim of reducing issuing times and limiting processing costs for each case.

In pursuing these objectives, great attention has been placed on "user experience", in order to devise a standard work process, limit operational impacts on the branches, reduce training needs to a minimum and focus on the elimination of errors and process recycling.

This has brought about the implementation of a new Loans Platform, which is capable of:

  • guiding the user in the process of issuing a mortgage 
  • allowing a mortgage to be issued in a shorter length of time 
  • allowing bank users to check process performances 
  • providing estimates to prospective clients 
  • integrating vertical applications, preserving, where possible, proprietary front ends 
  • realizing a document application in order to dematerialize files.

The project was developed in several phases, creating:

  • integration of a new front-end web and a new workflow engine for the orchestration of origination processes with the pre-existing loans engine;
  • replacement, in all the banks in the Group, of the previous loans engine with Engineering's Elise engine for the sale and management of all the new business;
  • progressive migration of running loans from the previous solution to Elise, following a work plan developed on a bank-product matrix (migration of banks, one at a time, with filters on types of products: secured, unsecured, subsidized...);
  • creation of a process-driven sales process platform for mortgages that integrates both the new Elise engine and all the applications involved in the issuing process.

The immediate benefit of the solution has been a 10-17% increase in branch productivity thanks to:

  • higher consultancy capacity
  • increase in the response speed to mortgage applications (from 30/40 to 15/18 days for the entire process)
  • the development of mortgage sales skills for all managers.