First Bank launches Micro Creditum app using FintechOS technology

22 iunie 2020

First Bank continues its digital transformation with the launch of the Micro Creditum application, making the entire lending process more efficient for its business customers in need of finance. „Analysis of credit documents can now be achieved in just one hour, marking a reduction in processing time of 80%.”, according to the press release.

This optimization was made possible with the help of FintechOS technology, which has the ability to integrate data from multiple external sources and analyze information automatically. Customers benefit from fast access to finance and the bank’s specialists gain valuable time in managing customer relationships.

The future of First Bank is predominantly digital, but its human component will continue to offer added value in finding the best solution for every customer. We focus on process automation to give customers a fast response and allocate more time to offering financial advice, instead of spending too much time analysing the paperwork.

We currently use 19 robots to perform operational processes in the area of credit management, cards, deposits, collaterals, payments and interbanking, but also in the HR departament.

Together with FintechOS, we launched Micro Creditum, the innovative solution that reduces the processing time of documents by 80%, enabling us to provide a response in 24 hours to every client in the Micro segment, the target customer of First Bank,” said Mădălina Teodorescu, Vice President of First Bank.

Using technologies that facilitate the bank’s interaction with customers is a first step in the digitalization of financial services. Opening remote accounts, accessing services without having to go to the branch, and digital signing of documents are all becoming part of how customers expect to bank. We see this trend towards digitalisation evolving rapidly across the entire market, even when the restrictions caused by the current crisis are lifted. We look forward to working with FirstBank in accelerating its digital transformation strategy”, said Teodor Blidarus, CEO of FintechOS, global provider of digital transformation technology to banks, insurance companies and other financial institutions.

In recent months, in the context of the Covid-19 pandemic, more and more companies in the financial services sector have adopted new technologies to ramp up the automation of internal processes and migrate to a digital environment, as well as embracing cloud solutions.

„The highest demand has been for solutions that solve issues like online enrollment of new customers, the configuration of virtual branches and online support services. FintechOS technology is natively built to respond quickly and flexibly to these needs.”, the company said.

FintechOS is currently involved in more than 20 projects to deploy omnichannel solutions for banks and insurers in the UK, Central and Eastern Europe, South-East Asia and North America.

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Gabriela Nistor – director general adjunct BT

Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”

Sondaj

In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale in 2020?