A Dutch Bank did not have an understanding of the workflows in their loans process. There was a lack of process visibility which resulted in an inability to measure the process and to ensure compliance and quality control was maintained. There was also a repetitive number of checks of the same documents in the application process.
HOW UNITEK.AI HELPED
After obtaining access to the information of the 13,087 loan applications, the Unitek platform was able to analyze the information and map out the loan application process by event stage, identifying 262,200 events in the applications, enabling the bank to identify and quantify each step in the process and the attrition rate by event stage as well as inefficiency in the process with a substantial amount of the applications going through a feedback loop to the consumer to obtain additional data. The Unitek platform was also able to establish the process flow by timeline, which identified the processing time of the application and the time of consumer engagement and also at what stages the applications were being held up.
Once Unitek received the data, it was able to produce the quantified process flow output within 24 hours, this removed the need for subjective interviews to assess a process flow within an organisation. The results of this piece of work enable identification of areas to improve and ways to improve flow in the application and increase conversion rates and dramatically improve the customer experience, by turning the wasted time of engagement into productive value-added conversations.