Far Eastern Bank introduced Dynamika Credit Conveyor

2022: Implementation of Dynamika Credit Pipeline

On August 29, 2022, the Dynamics company announced that the Far Eastern Bank had introduced Dynamika Credit Conveyor. Due to the implementation of the solution, the Bank optimized the processing of loan applications by 3 times, and also made the procedure for issuing loans as a whole more transparent and manageable from the point of view of the business process.

According to the company, the Bank asked Dynamics to automate and optimize the existing lending process. The company's specialists needed to build the process of working with loan applications so that it passed quickly and smoothly at all stages - from initial registration and processing, to various checks by bank employees and direct issuance of a loan to the client.

The solution for this problem was the universal module "Dynamika-Credit Pipeline," implemented on the basis of its own ROOT platform Dynamika, which allows:

• Optimize the launch of credit products and the introduction of changes to existing ones through the use BPM of - movement Camunda and seamless integration with the "" platform;CFT-Bank
• Optimize the process of filling out loan applications by operators by 3 times due to automatic substitution of data from ABS, as well as integration with counterparty verification services;
• Reduce the total review time by 2 times due to partial automation of inspections and optimization of the business process as a whole;
• Automate the processing of applications received from remote channels (RBS, bank website) through direct integration with Credit Pipeline.

The implementation of the module took place in several stages. At the first stage, from August 2021 to January 2022, specialists launched the issuance of consumer loans within the framework of the Credit Pipeline. The next stage (launch in June 2022) was mortgage loans, and the final stage will be Auto Loans (launch is scheduled for autumn 2022). In parallel with the introduction of credit products, Dynamics specialists also worked out the integration of the Credit Pipeline with the bank's website, since it was important to optimize work with applications in all areas at once.

According to Irina Olesik, head of the Retail Lending Department of Far Eastern Bank JSC, the introduction of Credit Conveyor has led to a number of positive changes in the work of the credit department. By automating processes that were previously carried out manually, the Bank was able to optimize the processing of loan applications at all stages - from filling out and checking the client's questionnaire, to forming a loan agreement and preparing credit documents. In addition, the redirection of the flow of applications through the underwriting department made it possible to optimize the level of expertise on loan applications, and the introduction of an automatic control system made it possible to significantly reduce operational risks.

In numerical terms, the results of the reorganization of the process of work on loan applications look like this: according to the Bank, the number of mortgage loan agreements for the period from July 1 to August 20, 2022, compared to the same period in 2021, increased 3 times. At the same time, the actual full-fledged launch of all types of mortgage products in the "Credit Conveyor" took place only on July 18, 2022.

At this stage, we have optimized the existing business process at the Bank. We have unloaded the entire "front-line part," namely, operators and other bank employees who work with loan applications and provide all the necessary information to underwriters who make the final decision on issuing a loan. commented Anton Nesterenko, Project Manager of Dynamics

Offloading the underwriting department is the next stage of work, Anton said. For these purposes, the Dynamics company also has a special development - a module for automating decision-making. As part of the implementation of the module, the concepts of the so-called "white" and "black" zones are introduced, in which part of loan applications are eliminated and approved automatically. Thus, only "gray" applications remain for manual consideration - that is, those that do not fall into any of these zones.

The contract for the implementation of this module was signed in early August 2022, the expected completion date is October 2022.