Raiffeisen Bank automated the internal bank process of issuing bank guarantees

2021: Automation of the intra-bank process of issuing bank guarantees

Raiffeisen Bank November 2, 2021 announced the automation of the intra-bank process of issuing bank guarantees. The Digital Guarantee Platform (DGP), developed jointly with Muon, allowed to automate and accelerate the process of issuing guarantees, increase the transparency of the process for the client, as well as simplify the process for all participants in the negotiation of the transaction within the bank. The DGP platform will become the basis for further scaling of the bank's documentary business.

Automation of "manual" processes has long become a market trend, however, as a rule, such solutions work only for standard cases and do not allow processing complex customer requests. Such requests are especially typical for customers of medium and large businesses, who often issue guarantees on non-standard conditions with a complex transaction structure. trade financings The Raiffeisen Bank team has taken the path of developing a universal platform that allows not only to automate the manual work of employees, but also to guarantee the flexibility necessary to work with various trade financing tools - from standard guarantees for public procurement to financing complex international projects.

The issue of a guarantee for medium and large businesses involves many internal systems of the bank, and also requires the correct reflection of the transaction in accordance with the requirements of Russian and international accounting. The DGP platform takes into account all these nuances and allows you to provide a seamless process for issuing a warranty:

• After the client sends the application to Raiffeisen Business Online, the bank employees immediately see it and can start working with it;
• The bank expert checks whether there are any specific requirements in the request that must be taken into account in order to further advise the client;
• The platform automatically carries out not only the reflection of the transaction in the accounting and write-off of the commission, but also a number of checks of the transaction before issue, which were previously done manually;
• The client in his/her personal account sees the status of approval of the bank guarantee and receives a notification when it is ready, as well as a scan copy of the issued guarantee or the guarantee itself in electronic form.

The creation of an end-to-end platform for issuing bank guarantees is especially valuable for regional customers of Raiffeisen Bank in the case of issuing a guarantee on paper - now the managers of the bank's regional offices have the opportunity to instantly sign and issue the bank's guarantee to the client without losing time.

In the development of DGP, we used current technologies. We managed to take into account the needs of customers and internal customers: the updated process of issuing guarantees has become as transparent as possible, which makes it possible to scale the business without loss in quality. The current level of automation allows us to maintain high growth rates, providing optimal service conditions for our customers, "said Anastasia Matkova, Executive Vice President for the Development of Trade Finance Products at Raiffeisen Bank.

We are a long-term partner of Raiffeisen Bank, but this joint project has become special for us. Primarily due to its scale. We are proud that thanks to our joint development, Raiffeisen Bank managed to move to a different stage of automation of the warranty process, "said Denis Alkhazov, CEO of Muon.

The DGP platform is built on the principles of microservice architecture, which will ensure the maximum ease of its further development in the perimeter of the bank.