The "Electronic Credit File"

The "Electronic Credit File" project was undertaken by S&N for a large German bank to find a practical way to eliminate paper files for customers in branch offices and individual departments and replace them with electronic files to allow credit decision within 24 hours.  

Before the project, each step in the process required paper documentation: First, loan documents were copied in the branch office. One copy went into the branch's filing cabinets and another was forwarded to the loan processing department. Then loan processing department would make a copy for its own files and send another copy to the bank's archives. Some credit decisions also required consent from the credit-risk assessment department, which meant that it also received a copy from which it took one itself.

The first phase of the "electronic credit file" project was able to usher in the digital revolution to this department by changing document storage methods. The branch documents are now given a standard cover sheet and are sent to a scanning service provider. OCR is then used as part of the scanning process to recognise the information on the cover sheet and to process the document itself. The automatically collected information is then delivered to a digital in-box. Depending on legal requirements, the original document is then either destroyed, returned or sent to the paper archive – all without having to make a single paper copy.

The credit processing department then accesses the document in its in-box and reviews the information provided. After this manual review, the paper document is approved for archiving (if required) and all departments can view the document through a web front-end. All departments now have common access to the documents and can take a credit decision.

In the second phase, the electronic credit file was linked to the back-end system containing information about client-engagement networks.

This information is linked together allowing a user opening a credit file to access the documents from the respective network partners and access relevant documents more quickly.

The third phase of the project was migration of the old archive. In a complex ETL process several million documents were integrated into the electronic credit files in just a few hours and with improved quality. This final phase has allowed this application to become established as the leading document management system for this customer.

S & N was involved in the planning & design of this project from the beginning and took the lead in developing several of its components as the project progressed. S & N now manages this system's operations and continued development.

Contact: Stephan Watermeyer; Turn on Javascript!