Appian BPMS Workflow Automation

The project "Appian BPMS Workflow Automation for Credit Product Lifecycle," addresses dynamic requirement change/adoption to meet customer demands by leveraging the power of Appian's Business Process Management Suite (BPMS) to design, build, and implement intricate business workflows for credit products.

Efficient Origination: optimize the credit product origination process, making it quicker, more accurate, and user-friendly. This involves automating data collection, validation, and initial customer interactions.

Streamlined Underwriting: implemented automated underwriting rules and decision-making processes to expedite the evaluation of credit applications for 90% of the deals. This ensures consistent, fair, and efficient credit assessments.

Collateral Evaluation: For secured credit products, the solution integrates collateral evaluation into the workflow, ensuring that collateral-related data is seamlessly incorporated into the decision-making process.

Approval Workflow: implementation of an approval workflow that dynamically routes applications based on predefined criteria, ensuring the right people review and approve credit requests efficiently.

Disbursement Management: Automating disbursement processes directly in Core Banking System. This will include fund transfer automation, compliance checks, and documentation generation to expedite the disbursement phase.

Maintenance and Monitoring: implementation of post-approval workflows for ongoing credit product management, including payment schedules, renewals, and customer communication.

Integration with 3rd Party Applications: To enhance credit decision-making, the solution integrates with third-party applications via APIs. This integration will enable real-time scoring and validation of data, resulting in more informed credit decisions.

Robotic Process Automation (RPA): deployment of RPA to automate repetitive, rule-based tasks within the credit product lifecycle, reducing errors and speeding up processes.

Enhanced Efficiency: The project will significantly reduce manual intervention, leading to faster turnaround times for credit approvals and disbursements.

Improved Accuracy: Automation reduces the risk of errors in data collection, underwriting, and collateral evaluation.

Better Compliance: The automated workflows will ensure that all regulatory and compliance requirements are consistently met.

Enhanced Customer Experience: Quicker decisions and disbursements will improve the overall experience for customers seeking credit products.

Cost Savings: The reduction in manual effort and improved efficiency will result in cost savings over time.

Real-time Data Access: Integration with third-party applications will provide access to up-to-date information for better decision-making.

The "Appian BPMS Workflow Automation for Credit Product Lifecycle" project represents a significant step forward in optimizing and automating credit product management, ensuring competitiveness, compliance, and a superior customer experience.