Experience
Faster loan approvals
- Role
- Designed the loan process for credit cards and personal financing
- Bank
- RHB Bank Malaysia
- Platform
- The bank's new loan platform, covering 5 loan products
- Partners
- Three Malaysian comparison sites, including RinggitPlus, for online applications
The situation
The bank was replacing its old loan systems with one platform for 5 loan products. Approval, account opening and disbursement were separate steps, and applications from online loan sites took days to get a decision, up to a week for cards.
What I did
- One process from application to cashI designed the flow so that approval, account opening for new customers and disbursement happen in one visit. The bank marketed it as a 10-minute loan.
- Opened the decision engine to online applicantsI worked with three comparison sites, including RinggitPlus, so customers could apply online and get a decision straight away, then finish the checks at a branch and receive the money on the spot.
- Took it liveI handled requirements, testing, training and rollout through to go-live.
The flow
- ApplyOnline through a comparison site, or at a branch
- DecisionIn real time
- ChecksAt the branch
- AccountOpened if the customer is new
- Paid outOn the spot
Steps 3 to 5 happen in one branch visit.
Results
- 1 visitfrom application to disbursement
- Real-timedecisions for online applicants, down from days, and up to a week for cards