Polaris Bank goes live with ACP Corporate lending solution
The case of a Corporate Lending implementation at a leading bank in Nigeria
Background
POLARIS BANK a leading financial services provider in West Africa. With headquarters in Nigeria, the bank maintains subsidiaries in Sierra Leone, the Gambia, the Republic of Guinea with over 373 branches and cash centres. Polaris Bank (ex Skye Bank plc.) invests significantly in the acquisition and deployment of Information Technology for enhanced customer experience across its multiple service delivery channels. Polaris Bank (ex Skye Bank plc.) is also the winner of Best Bank in Risk Management Award (Conrad Clark Nig. Limited) in 2014.
After a thorough selection process, Polaris Bank (ex Skye Bank plc.) picked Axe Finance to automate its corporate lending.
KEY CHALLENGESTo automate its corporate credit processes, from application and KYC up to approval, to be able to stay ahead of the competition and efficiently navigate the following challenges
HOW ACP EFFECTIVELY TACKLED THESE CHALLENGES HEAD ON
115%
80%
92%
ACP enabled Polaris Bank (ex Skye Bank plc.) to speed up loan applications and processing without sacrificing the quality of decision-making, enabling faster service for customers, improved operational efficiency, and a potential increase in customer satisfaction due to quicker loan approvals.
Thanks to ACP, Polaris Bank (ex Skye Bank plc.) was able to reduce operational risk and data loss during credit processing through tighter document management and reduced paperwork, while ensuring full compliance with the bank’s lending policies and local and international regulatory requirements. ACP helps Polaris Bank (ex Skye Bank plc.) ensure the integrity and security of data, reduce the chances of errors, and avoid regulatory penalties, upholding its reputation and trustworthiness.
