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Digitalisation of the process of offering credits to small and medium businesses

DSK Bank

A man and a woman submitting an application for a loan in a coffee shop

  • Category: Digital Transformation Financial Services Business Strategy UX Research and Design Data and Analytics Design

DSK Bank is a major Bulgarian bank. It has been owned by the Hungarian OTP Bank since 2003, being transformed into a joint-stock company in 1999, and was founded in 1951 as the country's savings bank.

The challenge

The traditional process of offering credits to small and medium businesses (SMEs) often involved cumbersome procedures, hindering the customer journey and slowing down approval times.

The need for a modern, digitalized approach became evident as customer expectations shifted towards seamless and automated experiences. Furthermore, complying with regulatory requirements and integrating with Government registers posed additional challenges that needed to be addressed.

The strategy

To address the challenges, a comprehensive strategy was adopted, focusing on leveraging cutting-edge technologies and best practices.

The development of a web-based platform using .Net Core and React provided a seamless user experience for clients seeking credit. The utilization of Azure Cloud ensured reliable and secure hosting, facilitating quick scalability to accommodate varying demands.

The integration with Government registers was meticulously executed, enabling real-time data access while ensuring adherence to regulatory requirements. DevOps practices were employed to enhance collaboration and streamline the development and deployment process. The utilization of MS SQL Server and HangFire for background job processing enabled the efficient handling of synchronous tasks.

The outcome

The successful implementation of the digitalization project resulted in transformative outcomes. Small and medium businesses could now embark on a fully automated journey to seek credit approvals, saving valuable time and resources. The integration with Government registers enabled seamless access to crucial data, enhancing decision-making accuracy and speeding up the approval process.

The pilot project's success in the Bulgarian banking sector established a robust blueprint for digitizing credit offerings in the financial industry. The utilization of modern technologies, such as Azure Cloud and DevOps practices, ensured scalability, flexibility, and improved collaboration among teams.

Ultimately, the project's success empowered SMEs with a seamless and efficient credit offering process, setting a precedent for digital transformation within the banking sector.

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