ArvatoArvato Financial Solutions can shorten the loan application process via its solution ‚digital account check‘ for customers from several days to less than 30 minutes. One of the first outstanding examples on the German market is Barclaycard, one of the world’s leading banks.

Barclaycard has successfully digitized the complete loan application process for their online business through the combination of the digital account check and a newly implemented video identification solution.

The digital account check is aggregating the account transactions, is realizing an online housekeeping billing and is calculating the available liquidity. Furthermore, external data such as credit information can be integrated, too. The data is checked and thoroughly analyzed in real time. A recommendation is then provided based on this analysis, allowing the bank to make a quick and safe decision on whether to accept the application. The customer receives the loan automatically onto the account within 24 hours depending on the individual settings of the bank.

This can now be done without any change in media – unlike the old process, which frequently involved printing out statements, sending them by post and digitizing them in the bank where complex checks were performed. This often led to the procedure being cancelled partway through.  To read the full story, click on the link below.

Source: Arvato Press Release