Comarch Credit Process Management at CitiFinancial

The Consumer Finance segment of the financial services market is growing rapidly. Increasing and more aggressive competition has resulted in the ready availability of cash loans and decreased waiting times even in the smallest municipalities. At the same time, customers have become more demanding and expect honest and straightforward information about loan conditions. CitiFinancial’s business depends on cooperation with many different partners, some of whom sell financial products from multiple institutions. This led the company to provide its partners with an IT solution that supports the sale of CitiFinancial products and enhances customer service whilst also assisting in loan decisions and the preparation of contracts.

The 6-month implementation process was completed in the second quarter of 2006. It began with the adaptation of business processes that ensure a comprehensive customer service. Printed documents and forms delivered to customers are a key element of the credit process and Citigroup has very specific requirements as to their format (i.e. PDF files) and appearance. It was necessary to extend the existing PDF template technology to meet CitiFinancial’s requirements.

The last phase of the implementation process comprised of intensive application tests that verified process and interface quality, loan parameter configuration, file generation and data security. Security tests were also performed to complement the functional tests; the former were indispensable before the system could be made available to a large and diverse sales network.