Product: BEA AquaLogic® Business Process Management
Industry: Financial Services
Business Challenge:
In order to issue MasterCard and Visa credit cards, Banco de Santa Fe must follow Argentina's strict Central Bank regulations, its own sophisticated business rules, and guidelines established by MasterCard and Visa. To comply with this web of regulations, the bank's back-office systems were integrated with numerous external data providers, and the bank employed several levels of manual review procedures before a issuing a card. Due to the complexity of the process, it typically took four weeks to complete an approval or rejection. During this waiting period, the bank did not have the capability to advise applicants on the status of their credit applications. And making matters worse, the process raised several security and privacy concerns.
Solution
To streamline and accelerate this complex, multi-partner process, Banco de Santa Fe deployed BEA's AquaLogic® Business Service Interaction (AL BSI) software. The bank used the BEA solution to:
The implementation of the BEA solution was completed in less than 60 days, with no interruption to any applications that were in process.
Results
Banco de Santa Fe successfully automated much of the application process as well as the interactions between its internal applications, Internet-based data services, and external partners. With the BEA solution tying everything together in an open and flexible fashion, the bank is free to adopt best-of-breed technologies to minimize credit risk and accelerate the approval/rejection process. Card issuance has been cut from four weeks to less than one week. The bank now has efficient and comprehensive credit application tracking so that branches and customers can be advised of the status of any application. The bank has enhanced security and decreased fraud rates, improved data integrity and reduced operating costs, and increased customer satisfaction. And, the bank has eliminated 80 percent of manual processing.