Go-Live with a Leading Retail Bank in Vietnam

axefinance is pleased to announce the launch of instant automated credit card loans at a top-tier Vietnamese bank.

An award-winning bank in the region set out to find the right partner to help?automate its credit card lending. The bank launched a rigorous 9-month selection process aiming at replacing its legacy system with a more powerful solution that would boost loan performance and help the bank stay ahead of the competition.?This process led to an?axefinance solution ?reward for the bank’s lending digitalization across five business units: Credit Cards, Retail, MSME,?SME , and Wholesale Banking.

The project’s?first phase?has been progressively rolled out and is already live, covering?secured & unsecured credit card loans. Even though there was a significant evolution of the bank’s risk policies after the initial scoping, thanks to axefinance expertise and close collaboration, project deadlines were met and there was no impact on the budget. The teams also overcame the significant COVID pandemic challenges, with many critical implementation phases performed entirely remotely.

Despite the very recent user adoption of ACP, spectacular performance improvements have been realized:

ACP contributed to increasing credit card loans process efficiency through:

• An end-to-end automated credit card process
• One single system entry point for all credit stakeholders thanks to?seamless integration?and smooth communication between?15 third-party?systems.
• An automated delegation of authority driven by a combination of business requirements and user authorities.
• Automatic decisioning based on predefined business rules & scoring.
• An automated workload assignment based on predefined criteria such as the credit amount, the number of credit applications, the threshold, etc.

The project also ensured a seamless omnichannel customer journey where credit applications can be initiated from multiple channels. Thanks to ACP, the bank successfully onboarded customers from multiple channels such as the bank’s mobile app, internet banking, website, third-party systems, and offline channels.

" Overall, we are very happy with ACP, it allowed crystal clear efficiency and credit risk mitigation gains. The most appreciated component of this solution is for me the Business Rule Engine, a real game-changer in terms of configuration UX and flexibility. Thanks to fully digitalized credit card loans processing through ACP, the bank maintained its growth even during the lockdown period and, the turnover of the credit cards business segment has been significantly increased." The?head of The Technology Delivery Service.