Fast Bank Accelerates Lending and Internal Processes With Elma BPM System

2025: Implementation of ELMA365

Fast Bank has completed a massive digital transformation project with the introduction of the ELMA365 BPM system. The result is a 48 + hour reduction in the processing time of credit applications, an acceleration of internal processes by up to 50% and the creation of a single digital space for all departments. Elma announced this on September 12, 2025.

By the time of the start of the project, Fast Bank had 34 branches throughout Armenia and a strategic goal - to become a digital leader in the banking sector, offering customers fast and personalized services. To do this, it was necessary to eliminate several restrictions: protracted approvals slowed down the issuance of loans, there was no unified system of control and reporting, and disparate IT solutions interfered with effective interaction between business units.

As a solution, the ELMA BPM platform was chosen - for the Low-code approach, the maturity of technologies, the flexibility of integrations through APIs and successful experience in the financial sector. The implementation project was divided into several stages in order to quickly put MVP into operation and finalize it by feedback from users. At the first stage, HR-processes were automated: hiring, registration holidays and layoffs. Further - procurement, collection management, accounting, internal applications and legal approval of contracts. This made it possible to eliminate "frozen" tasks, reduce the number of errors and provide complete analytics in KPI one interface.

A key element of the project was the creation of a credit pipeline. Now the path from application to loan issuance is fully automated:

• the client submits documents in the application or office;
• the system automatically pulls up data from state databases;
• the scoring model for the hours determines the maximum possible loan amount;
• with a positive decision, the system forms a contract and sends it for signing.

The digital transformation allowed Fast Bank to achieve significant results: the processing of loan applications accelerated by two days, and the time for completing everyday tasks was reduced by 30-50%. Automated legal document management now processes up to 100,000 documents per week - a volume that previously required the work of 120 employees. Integration IT-systems ensured the creation of a single digital environment with high transparency of processes, and the elimination of manual operations reduced the number of errors and operational risks.

My goal is to make Fast Bank a fully digital organization so that the customer can get the service from start to finish without having to connect another person. We have formed an internal team - administrators and analysts who are now developing the platform on their own. We plan to introduce AI into decision-making, develop a digital archive and ensure full traceability of all operations, "said Gor Mnatsakanyan, head of digitalization at Fast Bank.

The key value of the Fast Bank project is that the bank received not just an acceleration of individual operations, but a completely predictable and scalable model of operation. Thanks to the process approach, the business has become transparent and managed, and this creates the basis for further growth and introduction of new digital services, "said Natalia Dolzhenkova, Executive Director of ELMA.