Credit Provider

Reducing Time-to-Decision For a Credit Provider, Part of a Big Benelux Bank

Reducing Time-to-Decision For a Credit Provider, Part of a Big Benelux Bank
Client

Credit Provider

Industry

Financial services

Strategy

Category

A Benelux based B2B2C credit provider had the slowest credit approval process of the market, and as a result got only complex credit demands.

The Challenge

A Benelux based B2B2C credit provider had the slowest credit approval process of the market, and as a result got only complex credit demands. Complication: the client wanted to increase efficiency without losing the human element in expert judgment of non-standard cases. Hence standard ‘lean’ process roll-outs were inappropriate, and a more bespoke approach was what the client was looking for.  They partnered with Benthurst to redesign critical processes and tools, and adapt the organisation, resulting in higher quality credit applications and a much faster approval process.

The credit provider sought to diagnose the underlying factors causing significant bottlenecks in its application process, and in parallel improve the customer experience of its B2B clients.

What did we do?

We interviewed – with senior consultants – the B2B clients of our client. Combined with the results of our internal process and IT analyses, this led to a roadmap for IT-changes, process improvements and organizational change.  We helped the client with implementation and change management, both towards the internal teams as with the B2B clients.

The Solution

  • First-Time-Right credit applications went from 14% to 95%
  • Average throughput time went from 6-8 weeks to 1 week, and high priority files got a Time-to-Decision of 48 hours
  • Healthier balance between standard and complex credit applications
  • Increased market share

Quick Facts

  • 8 weeks to 1 week - decreased average throughput time
  • 48 hours - time to decision for high priority files
  • From 14% to 96,4% - increase in First-time-right ratio

Why does this matter to you?

Is your company fully aware of the true bottlenecks holding back business operations? Many inefficiencies go unnoticed, stalling productivity and customer satisfaction.

96,4
%
improved First-Time-Right ratio, from 14%
1
week
Decreased average throughput time, from 8 weeks
48
hours
Time-to-Decision for high priority files implemented

"Benthurst is a true, trusted advisor, you really can trust - I want someone I can be insecure with."

Vincent Jorritsma
CEO, Toyota Louwman Financial Services

People who worked on the project

Xavier Bekaert

Managing Partner

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