The Problem
Outdated technology was crippling Iris Neofinanciera’s ability to serve its customers effectively. Despite following regulations to the letter, their loan approval process was plagued by inefficiencies, resulting in slow turnaround times and a cumbersome experience for both clients and staff. This complexity significantly hampered their ability to approve loans quickly and maintain high customer service standards.
The Solution
Their primary goal was to find a BPM (Business Process Management) solution that could seamlessly integrate with existing tools for onboarding optimization, such as biometric validation, AML, and KYC. ProcessMaker emerged as the ideal choice due to its capability for:
- Automation: Streamlining processes and eliminating repetitive tasks
- Integration: Connecting with other tools for a holistic workflow
- Continuous Improvement: offering ongoing updates and enhancements
- Collaboration: Providing a platform for collaborative process design
Iris particularly valued ProcessMaker’s commitment to working closely with clients throughout the implementation process. This collaborative approach ensured the solution aligned perfectly with their specific needs.
The Value Created
The implementation of ProcessMaker led to a significant reduction in processing time, transforming the loan application process from a matter of weeks to just a few hours. This drastic improvement allowed for faster approvals and enhanced customer satisfaction. Additionally, the platform’s robust integration capabilities created a more seamless customer experience by simplifying interactions and reducing the amount of information required from applicants. This minimized friction and made the application process more user-friendly. Improved traceability provided by ProcessMaker enabled better monitoring and management of credit operations, ensuring that all steps in the process were transparent and easily trackable, thereby enhancing operational efficiency and compliance.
