IT infrastructure provider Kyndryl and CIB Bank, the Hungarian subsidiary of Italy-based Intesa Sanpaolo have announced that they will further streamline their lending process by introducing a modern and automated system for processing consumer loans, resulting in greater efficiency and significant cost savings.
CIB Bank’s goal was to transform the bank’s workflow for unsecured loans, update the user interface of the small business lending service and modernise the platform for mortgage and small business loans. The project has significantly transformed CIB Bank’s process for managing credit cards, overdrafts and personal loan applications, simplifying program code and redesigning business operations, while leaving the core technology unchanged.
„We are delighted to have Kyndryl as a partner on this project. With Kyndryl’s expertise in application development and operational support, we have modernized our lending processes, improved our internal capabilities, and are able to provide a more personalized and efficient service to our customers”,
said Sante Cusimano, CIB Bank’s Deputy Chief Operating Officer.
„Kyndryl is proud to partner with CIB Bank in this modernization project. It is a significant milestone for us to move beyond our traditional role as an IT service provider to become a trusted business application provider. We are committed to delivering solutions that exceed our customers’ expectations”,
said Tamás Bence Marosvári, Head of Business Process Consulting at Kyndryl Hungary.
The core of the project was the integration of Kyndryl’s comprehensive services, which enabled a complete transformation of the bank’s lending workflows and systems. Kyndryl has modernised everything from the application layer to the infrastructure and is already running the applications.
By streamlining product development, CIB Bank has accelerated innovation and reduced time to market. Centralising lending processes on a single platform has reduced operating costs by simplifying technology infrastructure and consolidating operations and support. The introduction of a quality-controlled operations and support model allows CIB Bank to modify components of the application as needed. Thanks to the new system, loan officers now spend less time correcting data entry anomalies and dealing with applications rejected due to internal errors.
