Case study for lending
The client: SA Taxi
Implementation and solutions partner: Xpertek Group
* Improve credit approval times;
* Improve governance; and
* Improve decision-making in the credit cycle.
* Redesigning and refining the deal application process; and
* Delivering and automating SA Taxi's new credit application scorecard.
* Delivering against tight deadlines;
* Automating scorecards that were designed by teams with a limited knowledge of Xpertek's systems; and
* Change management.
* “We believe both the relationship and service have developed from strength to strength over time.”
Brad Shirras, SA Taxi
* Xpertek is the current vendor and provides the loan management platform and process management solution to SA Taxi.
How it was achieved
A consultative workshop was arranged between the parties to discuss and document the changes needed in Xpertek's workflow component of the loan solution to cater for the new deal application process.
The changes made:
Every manual application received is automatically distributed to users based on business rules. Previously, the process relied on the user selecting new applications when time allowed.
* Route matrix
Changes were made to the route matrix to improve consistency and improve decision-making. The route matrix now uses calculations based on previous applications processed, thereby providing more reliable decision-making.
* Vehicle matrix
The vehicle matrix was introduced to govern exposures and ensure other deal terms were not exceeded.
Validation rules were built in so that captured information is automatically verified before a decision is taken. The system makes an automated recommendation on the application, which can be accepted or overridden.
* Data integrity
The manipulation of data was minimised.
Podium and decline letter formats were changed to automatically e-mail SA Taxi's client at the relevant stage in the process. Automated e-mails are also sent to the dealer informing them of the decision.
* Interest calculations
Interest changes were implemented to allow users to capture a total interest rate and the system then calculates the differential.
* The new credit process shortened from approximately 45 to 20 minutes;
* Simplified and streamlined deal application process;
* Reduced subjective decision-making;
* Improved consistency in data, reporting; and
* Better governance.
“The latest development work executed by the Xpertek team on the scorecard was really and truly unbelievable and the team really does deserve commendation for a job well done.”
Brad Shirras, SA Taxi
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