Relying on an expert system reduces time, costs and errors
“Collaboration with CRIF has enabled us to make the credit management and assessment system more efficient, in particular for the target company, with notable improvements in speed and in the quality of the information that is analyzed to initiate applications. The Advisory Expert System of the CRIF Credit Management Platform has also allowed us to improve our approach to the customer in the monitoring phase, giving us the opportunity to quickly identify any discontinuity in performance and to carry out a reassessment of the risk for the specific customer.”
CLIENT: an italian bank belonging to a top 50 global banking group
NEEDS: to speed up business credit evaluations both during loan origination and monitoring phases in the front office and minimizing manual involvement of a credit underwriter resource while also improving credit quality for the commercial portfolio.
SOLUTION: with the “Advisory Expert System” module of the CRIF Credit Management Platform, the customer has a comprehensive tool for the financial assessment of the customer, both in relation to historic data and with the ability to increase and generate cash flow, enabling a comparison of these data alongside its main competitors. It helps to facilitate decision making and delegating it to the sales relationship manager by automatically highlighting outliers, anomalies and alerts providing the user with exact script, such as a questionnaire which the sales manager presents to the customer to better understand the risk variables related to lending to the customer.
RESULTS: reduced in time, costs and errors in data analysis, and reduction in back-and-forth between front office and central / HQ offices for decision-making.