BRD – Groupe Société Générale enhances its retail loan origination process in Romania, partnering with CRIF
BRD Groupe Société Générale, one of the leaders in the Romanian banking market, part of Société Générale, one of the leading Financial Services groups in Europe, and its strategic partner CRIF released an enhanced Retail Loan Origination platform to improve the customer experience of their clients and reduce time to yes.
BRD’s main objective is to increase the volume of credit granted to its customers by implementing a simplified process and targeting a high-quality, widely-recognized, and customer-centric reference point in banking.
CRIF has been selected as partner for the implementation of an end-to-end retail application for individuals and small businesses, from engagement through disbursement. The software platform, developed and customized by CRIF, has enabled BRD to govern its loan origination process, supporting business goals with a flexible and scalable approach through the use of a suite of decision solutions, risk strategies, and process workflows easily configurable by business users.
The CRIF end-to-end application is aimed at BRD’s entire customer and product portfolio, both unsecured and secured, and supports all types of credit (new, renewals, refinancing, restructuring, etc.).
Three main factors have made the CRIF application successful. First, online integration with all the main information providers in the Romanian market (Credit Bureau, ANAF, etc.). Second, the multi-language features, which are scalable to multiple countries, with more than 30 online integration points within the different workflow processes. Finally, BRD business users have full control over all credit decision strategies without being reliant on IT: Authorization path, Affordability Check - DTI, Decisioning, Cross-selling & Upselling, Risk-Based Pricing etc.
Through the partnership with CRIF, BRD has achieved a high standard of service, improving sales performance and customer satisfaction, and reducing time to yes. The efficiency & performance of credit processes will lead to the optimization of resources and operational risks, and the achievement of a unique and centralized credit process to support the growth of bank loans to their best customers.
BRD enhanced its risk governance and was able to rely on a solid architecture & platform (SOA) integrated with a state-of-the-art underwriting platform, as well as achieving greater IT cost efficiencies, and reducing time to market for creating new products and modifying credit strategies and process changes.
“In an age when customers want better and faster services, BRD needs reliable resources and partners. We are happy that we could, together with CRIF, offer a more efficient tool to our sales teams, and also save time and improve the experience of our customers,” said Radu Topliceanu, BRD Deputy CEO in charge of retail.
“CRIF is proud of the strategic cooperation which has led to the release in the Romanian market of the innovative BRD End2End Origination Platform. This achievement is the result of the long-standing cooperation with Société Générale Group across EMEA, and CRIF’s recognized expertise and experience in Credit Risk Management. I’d like to thank both teams for working closely together as one unit and for maintaining such a high level of commitment, resilience and dedication to reach the last mile during this time of COVID-19,” commented Silvia Ghielmetti, CRIF Managing Director.
BRD - Groupe Société Générale operates a network of more than 600 units. BRD has a leading position in the card market with approx. 2.43 million cards and an acceptance network of approx. 30,000 POS and almost 1,500 ATMs. Total assets of the bank for the year ending March 2020 amounted to RON 57.02bn.
BRD is part of the Société Générale Group, one of the largest European financial services groups. The group has 138,000 employees in 68 countries and 29 million customers worldwide in its three key activities:
- French retail banking
- International Retail Banking, Insurance and Financial Services to Corporates
- Global banking and investor solutions.