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Financial Services

AgFirst Farm Credit Bank

AgFirst Farm Credit Bank replaces legacy processes to analyze 97% of loans in expected timescales

Financial Services

AgFirst Farm Credit Bank

AgFirst Farm Credit Bank replaces legacy processes to analyze 97% of loans in expected timescales

60%

faster closing of cases

100%

of information requests completed on time

97%

of loans analyzed in expected timescales

16

weeks to deliver first process

AgFirst Credit Bank needed to develop an agile approach to working to make their loan approval, special asset management and onboarding processes more efficient and keep up with the stringent, ever-changing regulations that surround the finance industry.

As a result, AgFirst launched a project to deliver robust and reusable business processes. Utilizing agile methodology and Bizagi’s digital process automation platform, AgFirst now has a responsive, mobile DPA platform capable of adapting to its customers’ changing needs, all without increasing headcount and dramatically improving compliance consistency. Additional benefits include the efficiency of loan analysis which saw them close cases 60% faster than expected.

Talk to Bizagi

Our decision to choose Bizagi was a strategic move to deliver agility within changing market conditions. Above all we wanted to be able to create solutions in a short amount of time."

Bala Sivankoil, Director of Application Development

Objectives:
  • Replace existing InfoPath legacy system with enterprise-level software
  • Create reusable process that can be utilized across the Agfirst’s 19 Associations
  • Enable over 45 members of staff to create consistent loan-related processes and workflows
  • Process more loans without increasing headcount
  • Implement baseline metrics to monitor & improve process performance
  • Deliver a flexible solution to meet changing customer needs
Achievements:
  • First process delivered in 16 weeks; subsequent processes 75% faster
  • Loan cases were closed in an average of 12.5 days, 60% faster than expected
  • 97% of loans analyzed within expected timescales
  • 100% information requests made by Loan Approvers completed on time
  • Reuse & "self-documenting" system creates fast development cycles
  • Agile workflows immediately reflect changes to policies and updates for customers
 

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