CASE STUDY
With the Early Warning System implementation our client achieved:
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Our client is a Central European bank (further referred to as “the Bank”) whose history dates back to the 1990s. It puts priorities on crediting private enterprises and companies of all sizes.
It was necessary to design and deploy EWS to decrease the bad debt ratio in the Bank’s loan portfolio.
Our client initiated a Request for proposal (RFP). The major players of the banking software development market were invited to participate in it. One of the Bank’s main requirements was to use open-source technologies for Early Warning System development.
The Bank’s management has always concentrated on digitization and automation of processes and workflows in their business. Even though some IT solutions for loan origination workflow have already been implemented in the Bank, they could not realize their full potential due to several constraints:
Understanding the fact that effective work greatly depends on smart and digital tools, the Bank decided to interconnect and automate the digital solutions implemented for different departments previously.
The technical requirements for potential vendors included the following major tasks:
Moreover, the client requested the usage Open Source technologies to reduce the cost of ownership and get a faster Return on Investment (ROI).
The Bank chose our team because of our expertise and experience in developing and implementing financial IT solutions for banks. Moreover, our solution strictly corresponds to the precise needs of the Bank.
Our business analyst team set up a series of meetings with the Bank’s representatives to fully analyze the requirements. Due to the deep knowledge of the banking industry, our experts and Bank representatives quickly developed the concept of the system for corporate client monitoring.
The software solution allows the Bank to:
As a result of a series of strategy sessions with the Bank, our team selected a few areas to improve Bank’s activities in the field of bad debt processing and necessary software implementation.
The final list of the project milestones was agreed upon with our client. It included the following activities:
Our team also implemented a flexible setup of user role modeling. The Administrator account was created for:
The major problem was that the Bank had already been using several separate software solutions. But they were not integrated and worked independently. This caused the desynchronization of data exchange, requiring our IT specialists to adapt their approach to account for various modules and microservices-based on different platforms.
In the course of EWS development, we achieved the result that in 90% of cases EWS sends notifications in less than 3 seconds.
Our team successfully solved a few problems that the Bank’s management considered crucial:
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