Improve Customer Experience
Better insights expedite decisions
Collections + Credit Card Applications
The Laurentian Bank of Canada (Banque Laurentienne du Canada) offers personal, commercial banking and brokerage services across Canada. www.laurentianbank.ca
Decisioning Cloud
Easy Integration
Integrate with legacy systems + new data partners
Change Models
Quickly
No IT resources required
The bank continuously looks for ways to enhance service delivery for its 1.5 million members. The Provenir Decisioning Cloud is an important part of this ongoing improvement process. Currently, the bank relies on Provenir to simplify and streamline both its collections and Visa card application operations.
Laurentian Bank took advantage of Provenir’s configurable adaptors to streamline collections and to offer customers faster Visa credit card approvals.
The bank integrated Provenir with five internal systems, including its credit card, mortgage and loan systems to develop an automated collections solution. Provenir automatically aggregates relevant data to refresh account status; uses business rules to segment the delinquent accounts; and assigns a priority to each account. The Provenir system now handles up to 20,000 accounts per day.
For faster Visa credit card approvals, the bank integrated Provenir with multiple internal systems as well as Experian and Transunion credit bureaus. Data captured in the bank’s Visa application system is automatically forwarded to Provenir in real time which determines whether an application should be approved along with the appropriate credit limit. By automating the decisioning process, the bank has cut approval time from several days to an average of 20 seconds for an annual volume of 30,000 to 50,000 applications.
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