Case Studies - Banking Industry Solutions
Case
Summary: A leading bank in the US wanted to develop a
solution that would automate their loan screening process and
enable it to be accessed online.
The
Customer: A Fortune 500 Banking Company, US.
Technology: Web Methods and Data Cleansing Tool.
Customer Description
The investigation department of a Fortune 500 bank in the US,
which tracks all faulty, bad, and insolvent parties on a day-to-day
basis.
The Challenge
The loan officers of this leading bank were dependent on their
investigation department for any suspected cases concerning prospective
borrowers. The investigation department responded to queries from
the loan department via a manual search process, wherein the data
searched was made available from multiple sources. This manual
process had several limitations in terms of timeliness and completeness
of information. The investigation department also lacked a proper
system that could search the identity of the borrower in varied
name/address formats after mapping with the internal/external
data. There was also the added risk of dubious borrowers approaching
different subsidiary banks with false identities, thus adding
to the bad assets in the organization. The loan department used
the investigation department only as a reference point for suspicious
parties, as per a manually defined process involving the use of
e-mail.
The bank needed an application to drastically reduce exposure
from high-risk customers. The internal and external data thus
collected by this application was to be utilized by loan approvers
online, ensuring quick access, prompt action and increased confidence
on sanctions.
The Solution
Tata Infotech designed a system that automated the export and
import of data uploads to and from various sources. These sources
included both internal and external sources. This process ensured
dynamic updates on queries sent to external/internal sources,
and a quick response furnished by them about bad prospects.
Today, web methods and data cleansing tools are used for importing
the various cleansed-up input files. Various daily, monthly, and
periodical input processes are conducted by the system depending
on the type of input. The risk score is also calculated by this
system. The database thus generates rich, complete, up-to-date
data that can be referred to by the loan department for an online
background check on borrowers and aid them in arriving at a prompt
decision.
Customer Benefits
