Banking Process Automation with Camunda

Client: Leading global banking and financial services company

The Business Need

The Client was using highly fragmented legacy applications which severely complicated customer and process management across credit ratings and risk assessment, loans, lending, and deposits.

In particular, the company faced the following challenges: 

  • Lack of risk data accuracy and integrity for credit decisions
  • High fragmentation of software solutions which prevented them from meeting the audit requirements
  • Non-automated workflow support for Structured Credit Analysis
  • Process breaks, manual workarounds/inefficiencies
  • System performance hiccups
  • Lack of transparency and traceability of processes and data for Lending & Deposits decision-making
  • Lack of real-time monitoring
  • Slow and inconsistent pricing exception approval tracking and execution.

Solution by rinf.tech

After analyzing the client’s current legacy applications, the rinf.tech team identified common patterns that created bottlenecks in its banking and financial ecosystems.

The analysis showed that system performance delays, resource allocation issues, problems with adaptability to changes, and inability to meet customer needs were due to the lack of a modern business process integration layer.

Following internal research and discussions with the client’s technical architects and business side for process definition, modeling, and implementation, the team reached an agreement on process definition, adjustments, and improvement within Camunda, and Camunda customizations for specific needs.

As such, the solution consists of:

  • Custom development of a business process integration layer and its deployment
  • Automation of banking processes, and the overall system upgrade to deliver a global workflow (management and addition of new workflows)
  • Frontend and UI/UX components to ensure a user-friendly experience
  • Monitoring and reporting applications to meet the requirements of Lending & Deposits and Credit Risk Management.
  • Behavior customizations by adding custom code over Camunda’s implementation according to the client’s needs.

Since time was of the essence for the customer, rinf.tech developed a release roadmap to be achieved within 4 months. Despite difficulties related to process modeling and numerous discussions on technical implementation, the solution was successfully released within the set deadline. 

The custom-built solution has functionalities allowing the client to:

Address the communication & process execution gap between business users & IT, with business process management capabilities

Allow orchestration of services and seamless integration of business requirements

Alleviate the barrier of communication amongst multiple channels & siloed departments

Minimize the costs, time & resources required to build & maintain them

The current solution was chosen considering the business context of the customer, their current digital transformation maturity level, regional distribution, overall ecosystem, and the degree of connectivity for existing processes.

The logical data model has been divided into three data groups:

  • Borrower related data
  • Pledger related data
  • Facility / CAM-related data

Results

Increase in customer response rates
0 %
 Reduced effort spent on platform monitoring & cross-systems health checks
0 %

Faster time to market new features & implement changes

0 %
  • 6-digit figure yearly cost savings – as a result of the expensive TIBCO license renewal discontinuation, automation, and legacy system upgrade
  • Business process visibility increases at the organization level
  • Facilitation of the loose coupling of systems and actors
  • Improved ability to meet regulations compliance audit criteria due to workflow automation
  • Eliminated redundancy and system performance stabilization
  • A unified Data Model linking corporate strategic objectives to KPIs and automatic reporting
  • Higher quality of customer services.

Technology

BPM/BPMN, Java 1.8, Java 11, RxJava, Spring Boot, Spring Data, MapStruct, REST APIs, Camunda, OpenShift, Elastic search, Oracle database, Angular 

Client Testimonial

"The Tibco iProcess replacement project was delivered within time, cost and scope constraints. The delivered code showed high quality and the collaboration with rinf.tech development team was top quality in addition very pleasant on a personal level.

I highly recommend the rinf.tech implementation team for high-value, time sensitive projects. They are a dependable partner in any situation. The Tibco replacement project has brought six figure cost efficiency on a yearly term and I can say that rinf.tech brought a major contribution to help us achieve this objective. I have also collaborated with rinf.tech by having T&M testing resources onsite. The colleagues from rinf.tech were excellent team additions and performed their activities very well with minimum intervention from my side."

Project Manager(with a background in managing delivery of testing and development services and coordinating IT projects in software services, software development and software infrastructure areas)

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