German bank triggered 4,000 cases in 6 months, halving the time it takes for approval of processes, including loans and pricing, to be completed.
About DZ HYP
DZ HYP is the second largest bank in Germany, operating in both corporate and investment finance. The organization recently acquired WL Bank, which deals with real estate financing and public clients, serving a client base of local cooperative banks, investors and municipal companies.
I liked Bizagi very much. When you have several important people who have to approve something, it’s really helpful to let them decide when they would like to react on that and to have a transparent view of what's going on. Bizagi lets us do that securely.
Daniel Wohlfarth, Head of Software Development, DZ HYP.
Synopsis
DZ HYP’s processes were heavily reliant on paper, with the process of obtaining signatures for approval of loans and pricing proving particularly cumbersome due to the lack of visibility as it was impossible to know when someone had provided a signature until they manually submitted the document.
The signing process was digitized so that board members don’t have to wait for each other to sign the document individually – they can do it anywhere, from any device, all at the same time. It provided the business with a centralized overview of feedback and the current status of the approval workflow.
The signing process was digitized so that board members don’t have to wait for each other to sign the document individually – they can do it anywhere, from any device, all at the same time. It provided the business with a centralized overview of feedback and the current status of the approval workflow.
Objectives:
- Digitize the paper-based approval processes
- Integrate with DZ HYP’s CRM
- Speed up the approval process to win more business
- Ensure compliance with German law
Achievements:
- Sped up approval process by at least 50%
- 4,000 cases triggered in 6 months with around 100 users
- Created a digitized system with user passwords and a re-authentication system to ensure compliance and security
- Won more business as a result of faster approval process
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