For years, corporate lending has been considered too subjective and relationship-driven for automation. Banks rely on a combination of disparate IT systems, word documents, spread sheets and email to complete an approval process. Increasingly, both internal and external stakeholders are seeking a modern IT solution to enable banks to:
Most banks centrally manage their retail loan approvals by using a BPM-based approach. For corporate lending, however the general perception is that there are too many variants of the loan approval process in banks. Each product line and customer segment is assumed to have a customized process. Hence automation is percieved to be difficult.
However, in-depth analysis reveals that while there are minor variants in rules and approval levels, the underlying process is the same across the enterprise. Creative use of the BPM approach enables transformation in corporate loan approvals and facilitates automation of the current process, while retaining subjectivity in decision making.
CPS is a functionally rich, ﬂexible solution that empowers banks to completely transform their corporate loan proposal management – right from sourcing to on-boarding. Its BPM-based core comprises of prebuilt activities and rules that facilitate orchestration of the bank-speciﬁc process.
CPS integrates with the bank’s existing systems to provide a seamless, centralized platform for each stakeholder involved in loan approval. These systems include risk scoring engines, loan management systems, collateral management system, among others.
The scope of CPS spans across the loan appraisal life cycle, right from the time a loan request is sourced to when it is onboarded. This end-to-end comprehensive coverage makes it an ideal solution for all proposal information related needs.
CPS meets the expectations of all the stakeholders involved in the approval process. This is because banks get to: