Temenos has announced its next-generation end-to-end corporate lending platform, designed to help banks digitally transform their entire corporate banking business.
The new digital tool helps banks reduce cost and drive operational efficiencies, improve customer experiences, and create offers for customers that are tailored to individual corporate needs.
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The microservices-based platform also allows banks to automate their heavily manual and complex processes. It enables the bank’s corporate lending teams to access the right data at the right time to make faster and smarter decisions.
Using the platform, banks can evaluate loan applications more rapidly, structure complex corporate deals, and handle negotiations in a transparent and efficient manner.
They can also assess credit risk to maximize the performance of their product portfolio and capital.
Customers can access the right credit facilities
The platform allows corporate customers to access the right credit facilities for their needs. Further, it enables banks to manage lending for both corporates and SMEs, further streamlining systems and processes.
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By GlobalDataCorporate banks often have complex IT architectures with data residing in multiple system siloes. This results in time consuming, heavily manual processes and poor data utilization.
Banks can use the platform to streamline their disparate systems into a centralised platform with consolidated processes and pricing, embedded analytics and real-time dashboards, to offer fully automated digital services.
Temenos’ enhanced corporate loan origination capabilities help banks manage the entire loan lifecycle, from pre-screening to underwriting, due diligence, document capture, credit administration, acceptance and closing.
This enables banks to aggregate and analyse the information they need to take decisions faster on complex corporate credit arrangements and process commercial loans with effective risk management.
A 10-fold increase in loan applications during Covid
These corporate loan origination capabilities are based on Temenos Infinity, the market-leading digital banking platform, which utilises industry standard workflow management and business rules solutions to handle complex case management.
During the pandemic, many banks reported loan application volumes that were eight to 10 times their typical level. The difficulty to process these volumes was exacerbated by the complex underwriting challenge in a fast-moving environment.
The process requirements of government-backed schemes that, given their novelty, remain manual for most banks.
