Fibank (First Investment Bank) introduced a new and modern system for processing loans to individuals. The BPM (Business Process Management - New Workflow) system is developed on the IBM Business Automation Workflow platform. It covers activities such as accepting and considering loan applications, preparing opinions, approving and granting new retail loans, as well as renegotiating the terms of existing ones. The new system has been successfully implemented and is now effectively used by all employees in the branch network of Fibank. At a later stage, it will be upgraded and also used in corporate lending.
The BPM system features a number of benefits for customers aimed at digitalization and improved service. Thanks to it, most documents are generated automatically and are ready for signature which saves time and effort. The automated procedures, including the automation of loan approval stages, reduce the time interval between applying for a loan and actual loan disbursement.
Regarding the introduction of BPM, Ms. Ralitsa Bogoeva, Executive Director in Fibank, said: “The new Business Process Management system is part of the bank's strategy to provide a better customer experience. At the same time, we continue to develop our retail products and services and will soon offer new opportunities to increase their profitability”.
Information on all Fibank credit products for individuals can be found on our website: https://www.fibank.bg/bg/chastni-lica/krediti.
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