mBank: Behind the scenes of a successful, innovative bank
CLIENT: mBank is one of the largest banks in Central and Eastern Europe and is known for its high customer satisfaction thanks to innovative and digital customer loyalty measures. Until 2013, mBank operated under the name BRE Bank and is active in Poland, the Czech Republic and Slovakia.
NEEDS: The company faced a number of challenges that meant mBank needed to innovate and adopt new technologies.
These were to assist with the following tasks:
- Expanding the customer base and improving customer satisfaction, especially in the retail and small business segments.
- Automating the loan application process to make the loan process faster and more
and make it more user-friendly
- Developing new segments and expanding into new geographic
- Acquisition of an appropriate tool to anchor Basel compliance
- Increased flexibility and speed of adaptation
SOLUTION: mBank chose CRIF as its partner because of the strategic solutions that adequately met the needs of the financial institution. mBank restructured its credit risk management tasks and revised its decision-making processes to make the best use of CRIF's predictive analytics. In addition, StrategyOne, CRIF's decision management solution, was to be used for automated decisions throughout the credit lifecycle.
RESULTS: The results were outstanding:
- Tripling of the number of customers
- Expansion into 2 additional countries
- Increase of loans in the retail segment 9-fold
Through automated scoring and decisioning, mBank achieved a fast lending process for both new customers, with a processing time of only 15 minutes, and existing customers, where pre-approval for a loan can be done with the click of a mouse.