Bigbank overhauls credit processing with Provenir
Estonia-based Bigbank is modernising its credit decisioning and loan origination processes with Provenir.
Provenir’s cloud-based solution will reduce time to market, improve efficiency and customer centricity at the bank, says the vendor.
Agur Jõgi, chief technology officer at Bigbank, comments that investment in technology will help the bank to achieve the goals of “delighting customers” and growing its market share.
The Provenir solution is “an important element” in Bigbank’s digital transformation, he states. “We are pleased with how quickly we’ve been able to develop an end-to-end efficient workflow; the interface is so visual that it is simple to design effective, transparent business processes.”
At present, Bigbank’s updates to risk models and policies can take up to four weeks. The vendor assures that with its solution in place, “changes will be simpler and quicker as they won’t require IT development”.
The solution is interfaced to the bank’s back office systems, the Mind-xQ deposits solution from a local developer, Mindware, and the Forpost core banking system from a Lithuanian vendor, Forbis.
Bigbank specialises in term deposits and consumer loans. It operates in the Baltics, Nordics, Germany, the Netherlands, Austria and Spain.