Power BI for Banking: 27% Boost in Loan Processing Speed
Banking and Financial Services
Listen to the Case Study
The client is a leading global bank with a strong presence international markets. Known for its customer-centric approach and commitment to innovation, the bank serves millions of customers across retail and corporate banking and continuously invests in technology to enhance service delivery and operational efficiency
The Challenge: Fragmented Loan Processing Impacting Efficiency and Customer Experience
A client was facing inefficiencies in its Auto and Personal Finance loan processing workflows. Disconnected systems, lack of visibility, and delays across departments were affecting both operational performance and customer satisfaction.
No Clear View of Process Timelines: The bank lacked a centralized way to track how much time each department was taking to process loan applications. Without clear visibility, it was difficult to identify bottlenecks or measure performance across stages.
Lack of interaction between Departments: Departments involved in the loan approval cycle were operating in silos. This lack of coordination resulted in slower processing times, inconsistent workflows, and unnecessary back-and-forth between teams.
No Unified Status View: To view the status of a loan required navigating multiple systems. Due to this manual effort internal follow-ups were delayed
Limited Operational Insight: There was also no analytics-driven insight into how the loan process was performing overall. The absence of performance metrics or trend analysis prevented the bank from making informed decisions to improve turnaround times and service quality
The Solution: Real-time Visibility and Performance Tracking with Power BI
To address inefficiencies in loan processing and enhance customer responsiveness, a unified reporting and analytics solution was implemented using Power BI. This initiative focused on centralizing data, streamlining tracking, and providing the loan operations team with the insights needed to act quickly and effectively.
Custom Dashboards for Loan Categories: Dedicated Power BI dashboards were built for Auto and Personal Finance loan applications. These dashboards aggregated data from various internal systems into a single interface, making it easier for teams to monitor progress and performance across loan types.
Customer Segmentation for Prioritization: The dashboards showed the top 100 customers by loan amount and by agency, which allowed the managers to analyze segmentation for high-value opportunities as well as prioritize them for faster processing and customer discussion.
Real-time Application Status Tracking: Each loan’s current stage in the approval lifecycle was made transparent through the dashboards. Teams could instantly view where an application stood, reducing the need to manually gather status updates from multiple systems.
Stage-wise Performance Analysis: The solution highlighted the average time taken by each department at every stage of the loan process. This clarity helped pinpoint specific areas where delays occurred and informed targeted improvements.
Month-on-Month Departmental Comparison: Power BI provided month-on-month comparisons of department performance. Each manager could monitor trends over time, analyze productivity, and make data-informed decisions to enhance the workflow.
Actionable Insights for a Proactive approach: Real-time data visualization and in-depth analysis with dashboards enabled the loan management team to take quick decisions. This speed-of-actions reduced operational bottlenecks, creating a better customer experience when it came to processing a loan.
