Fast Transformation: How Euvic Modernized Loan Processing for a Major Bank
Overview
This case study highlights how a leading credit and mortgage institution modernized its loan processing system with Euvic’s expertise.
Facing inefficiencies from a legacy paper-based system, the bank needed to quickly adapt to the demands of remote work while ensuring regulatory compliance.
Euvic delivered a fully digital solution, seamlessly integrated with the bank’s IT systems, allowing for fast implementation and minimal training.
This major credit and mortgage bond institution is the largest in its region, with a 2017 balance sheet totaling around €14 billion. The bank offers private banking, lending, real estate investment, and project development services throughout France and Germany. The company values economic foresight and a strong commitment to its customers, which are largely small business owners and corporations.
Assessing loan applications for small and mid-sized businesses is core to this banking client. Their legacy, paper-based system created inefficiencies and couldn’t adapt to remote work during COVID-19, leading to major disruptions. The bank needed a fast, secure shift to digital processes, ensuring compatibility with their existing tech infrastructure. Key points include:
- Paper-based burden: Slow, manual workflows for both clients and internal teams.
- Remote work risks: Outdated systems couldn’t support collaboration during the pandemic.
- Diverse user needs: Clients, employees, and management each required tailored access.
- Security compliance: High regulatory standards in the region demanded robust, secure solutions.
- Urgency: The pandemic created urgency and paper-based systems put productivity at risk.
To solve the paper-based inefficiencies, Euvic was brought in to develop a fully digital loan management system.
- By outsourcing the engineering work to Euvic, the bank quickly scaled its efforts, tapping into a team of experienced fintech engineers.
- Euvic’s UX experts designed a user-friendly, intuitive workflow that minimized the need for training, allowing the platform to launch swiftly and seamlessly.
- This streamlined solution modernized the bank’s loan processing and empowered users at all levels with a smooth, efficient experience.
Euvic assigned a dream team with deep fintech experience and an understanding of international banking.
11 team members including UX/UI designers, front- and back-end engineers, business analysts, testers, project managers.
In just three months, the bank’s new digital loan processing system was up and running.
- Fast implementation: The new system was up and running in just 3 months.
- Regulatory compliance: Fully secure and met all stringent regulatory requirements.
- Seamless integration: Completely compatible with the bank’s core IT systems.
- Boosted efficiency: Dramatically improved loan processing speed and reduced manual effort.
- Long-term impact: Benefits extend beyond the COVID crisis, delivering lasting efficiencies still in place today.
