Read this article about Bizagi, Finalist in the Best Achievement in Operational Excellence to deliver Digital Transformation, selected by the independent judging panel, for the 2021 Digital Transformation & Operational Excellence Industry Awards program.
Process Automation Software Leader, Bizagi, Accelerates Efficiency by
90% in VKB Bank
Following the economic impact of the COVID-19 pandemic, VKB Bank was temporarily faced with more than 100 times the number of credit installment deferrals per year than they had faced the previous year. This number skyrocketed from 150 requests per year to more than 100 requests daily. This spike in processes grew into a large organizational blight as each request took anywhere from 40 to 60 minutes to complete, depending on the complexity of each individual case. This arduous process was manageable before the pandemic, but VKB Bank became unable to deliver quick and efficient customer service requests as internal resources were primarily directed to the high volume of manual credit installment requests.
In working with Bizagi, VKB Bank set out to more efficiently and effectively manage the 100x increase of credit deferral cases, as well as streamline current internal processes to eliminate unnecessary steps. VKB Bank also wanted to orchestrate current systems with Bizagi’s centralized platform, automate manual steps and reduce the time of the overall programming life cycle.
In just three weeks, VKB Bank’s processes were simplified using Bizagi to alleviate the heavy lift for employees navigating the approval process. Now, once the VKB Bank team receives a credit deferral request, they will review the customer data and evaluate the duration of the referral using an automated calculation. The user can then approve or reject the request and a document of approval is created and automatically stored in the system. Bizagi modified several steps within these processes, such as automating the creation of contracts, the sharing of contracts with the customer and the credit program documentation. Additional automation was provided by Bizagi’s UiPath bots to connect with VKB Bank’s core bank system for automatic acquisition. The UiPath bots were able to assist with the bank’s ‘four eyes’ principle that ensures all documents are looked over by at least four people before being approved. Bizagi was used to automate several other processes, including application for consumer credit, housing finance and estate settlement.
VKB Bank’s work with Bizagi resulted in increased efficiency by 90%, in turn reducing the processing time from 40 to 60 minutes to just 4 to 6 minutes. VKB Bank is now able to process the major pandemic-induced increase in credit installment deferrals without having to hire more staff, saving the company both time and money. Further, all of VKB Bank’s data now passes through Bizagi’s platform rather than through the seven separate systems that were previously required. Leveraging one single platform also allows VKB Bank to enjoy easy coordination of data, allowing for system testing and validation to produce higher quality data. VKB Bank is better enabled to deliver a more satisfactory, streamlined and quick customer experience throughout the organization.
Digital Transformation & Operational Excellence Industry Awards 2021
About the Awards
The Digital Transformation & Operational Excellence Awards have been established to showcase globally the most outstanding achievements through the application of Business Transformation, Digital Transformation, Operational Excellence & Innovation Excellence programs. Click here to view the Press Release.
The winners will be announced at the Awards Ceremony at The Digital Transformation & Operational Excellence World Awards (DTOES) on Wednesday, December 15th, 2021, from 6:30 PM at Renaissance Orlando at SeaWorld®.
The Business Transformation & Operational Excellence Awards are open to all organizations, both private and public sector, across the globe, which have implemented Business Transformation, Digital Transformation, Operational Excellence & Innovation Excellence programs to deliver outstanding business results.
The Awards will be held in conjunction with the Business Transformation & Operational Excellence World Summit, BTOES 2021 on December 15, 2021, at the Renaissance Orlando at SeaWorld®. Click to access the agenda, view the current speakers, and watch the highlights video from last year.
Speakers
Agenda
Highlight Video
BTOES.com
BTOES is the industry’s biggest and best, senior-level, cross-industry gathering of Business Transformation & Operational Excellence industry leaders and senior executives.
With over 150 speakers, over 100 sessions, 12 Keynotes, 9 Track Themes, 5 parallel tracks, 60+ track sessions, 50 roundtable discussions, 20 Interactive Workshops, 6 Thought Leader Panels, 5 Leaders Boardrooms, 5 co-located events, the Industry Awards Program, Site Visits, 20+ hours of social networking including 2 gala cocktail parties, dinners, numerous group activities, this is the ultimate event to benchmark, network and drive Operational Excellence to the next level.
Quick Links
Speakers
Agenda
BTOES Awards
There is a strong focus on Cultural Transformation, Customer Delight, Sustaining an Operational Excellence program, Need for end-to-end Business Transformation, Keeping up with new technologies/impact of digitalization and Leadership Buy-in & Understanding. We dedicated two tracks to advanced technologies, such as AI, Machine Learning, RPA, Predictive Analytics, Blockchain, Cloud infrastructure etc.
The agenda is designed to encourage active meaningful conversations through all day enhanced networking and interaction opportunities, including
For more information please email info@proqis.com