Raiffeisen Bank is Gaining Efficiency with New Front-end System

Project description

Raiffeisen Bank is overcoming the limitations of its legacy software and boosts the efficient use of all new digital applications with a redesign of its front-end software system under the “customer transformation program”.

Background

One of the leading universal banks in Bulgaria and part of Raiffeisen International: Asset Size – over 7 billion BGN, number of customers 613 000, Loans 4.3 billion BGN, Deposits 5.3 billion BGN.

The Challenge

Raiffeisen Bank Bulgaria made a decision to modernize its business, operations model and processes in line with its Head Office Raiffeisen International. For this, the bank uses a multitude of programs, applications, and systems all boosting its performance.

By updating its front-end system, all of these could be accessed and used through just one screen by the bank experts. This would allow them to service their clients faster and more efficiently. Finally, the Bank chose Sirma Business Consulting for expert advice and active help on the upgrade of its front-end system and business process optimization.

The Solution

The service “Business consulting in finance” was used. Sirma’s team identified the business requirements of the bank. Then the business and tech architecture was drawn up. Following that the appropriate vendor for providing the necessary technological solution was selected – this being the software company Axxiom, with Sirma supporting the development and customization of the new front-end system.

We created a completely digitalized process for opening of accounts and issue of cards, so that our clients may have a seamless banking experience

Raiffeisen Bank on Twitter

The Result

The business model, operations and processes of Raiffeisen Bank were now in tune with its Head Office in Austria. By the front-end system upgrade, Raiffeisen’s front office teams strongly increased their efficiency of operations and increased the speed of servicing their clients, leading to improved customer satisfaction. All this accompanied by decreased cost of transactions.

More information

Find out more about Raiffeisen Bank, visit their site
To find out how Sirma can transform your financial institution, visit our Business Consulting in Finance service