Documenting our new process was the most time consuming part of the project, but the most valuable as it forced us to question each step and allowed us to eliminate redundant practices.” The bank was able to add the nearly 100 branches acquired with their United California Bank acquisition last summer in record time. BusinessLink was one of the first groups to complete their conversion tasks. They have designed their application to also function as a training tool, making it more readily accepted by new users.
How FinanceCenter Works Each branch logs into FinanceCenter on Bank of the West’s intranet to submit applications, download supplementary materials, and check on the status of existing applications. 1.An application for each product offering is completed and submitted electronically by branch personnel or web application, call center, equipment vendor, etc. 2.Automated Credit Workflow takes over. 3.Credit data is requested based on rules configured by the bank. 4.The transaction is assigned to an underwriter for review based on the application and credit data. 5.Notification is sent to branches via email as the transaction progresses through the process. 6.Near real-time reports can be generated on all financing activities. 7.
The entire process routinely takes less than a full business day. Credit decisions can be immediate when all information is available or routed automatically to the appropriate person for review.