BRD Groupe Société Générale, one of the leaders in the Romanian banking market, part of Société Générale, one of the leading Financial Services groups in Europe, and its strategic partner CRIF released an enhanced Retail Loan Origination platform to improve the customer experience of their clients and reduce time to yes.
BRD’s main objective is to increase the volume of credit granted to its customers by implementing a simplified process and targeting a high-quality, widely-recognized, and customer-centric reference point in banking.
CRIF has been selected as partner for the implementation of an end-to-end retail application for individuals and small businesses, from engagement through disbursement. The software platform, developed and customized by CRIF, has enabled BRD to govern its loan origination process, supporting business goals with a flexible and scalable approach through the use of a suite of decision solutions, risk strategies, and process workflows easily configurable by business users.
The CRIF end-to-end application is aimed at BRD’s entire customer and product portfolio, both unsecured and secured, and supports all types of credit (new, renewals, refinancing, restructuring, etc.).
Three main factors have made the CRIF application successful. First, online integration with all the main information providers in the Romanian market (Credit Bureau, ANAF, etc.). Second, the multi-language features, which are scalable to multiple countries, with more than 30 online integration points within the different workflow processes. Finally, BRD business users have full control over all credit decision strategies without being reliant on IT: Authorization path, Affordability Check – DTI, Decisioning, Cross-selling & Upselling, Risk-Based Pricing etc.
Through the partnership with CRIF, BRD has achieved a high standard of service, improving sales performance and customer satisfaction, and reducing time to yes. The efficiency & performance of credit processes will lead to the optimization of resources and operational risks, and the achievement of a unique and centralized credit process to support the growth of bank loans to their best customers.
BRD enhanced its risk governance and was able to rely on a solid architecture & platform (SOA) integrated with a state-of-the-art underwriting platform, as well as achieving greater IT cost efficiencies, and reducing time to market for creating new products and modifying credit strategies and process changes.
Source: CRIF Press Release