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Business Challenge
In order to issue MasterCard and Visa credit cards, Banco de Santa
Fe must follow Argentina's strict Central Bank regulations, its
own sophisticated business rules, and guidelines established by
MasterCard and Visa. To comply with this web of regulations, the
bank's back-office systems were integrated with numerous external
data providers, and the bank employed several levels of manual review
procedures before a issuing a card. Due to the complexity of the
process, it typically took four weeks to complete an approval or
rejection. During this waiting period, the bank did not have the
capability to advise applicants on the status of their credit applications.
And making matters worse, the process raised several security and
privacy concerns.
Solution
To streamline and accelerate this complex, multi-partner process,
Banco de Santa Fe deployed BEA's AquaLogic Business Service Interaction
(AL BSI) software. The bank used the BEA solution to:
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Automate processing of each customer's
personal and financial data |
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Integrate review/approval process
with legacy systems (e.g., AS/400 system in the bank's back
office), business partners, and credit-verification bureaus |
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Orchestrate the approval workflow
between the bank's risk analysis and retail banking functions |
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Eliminate unnecessary manual processing
of rejected applications |
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Generate credit cards for approved
applicants via the Visa or MasterCard systems. |
The implementation of the BEA solution was completed in less than
60 days, with no interruption to any applications that were in process.
Results
Banco de Santa Fe successfully automated much of the application
process as well as the interactions between its internal applications,
Internet-based data services, and external partners. With the BEA
solution tying everything together in an open and flexible fashion,
the bank is free to adopt best-of-breed technologies to minimize
credit risk and accelerate the approval/rejection process. Card
issuance has been cut from four weeks to less than one week. The
bank now has efficient and comprehensive credit application tracking
so that branches and customers can be advised of the status of any
application. The bank has enhanced security and decreased fraud
rates, improved data integrity and reduced operating costs, and
increased customer satisfaction. And, the bank has eliminated 80
percent of manual processing.
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