Raiffeisenbank has been operating on the Czech market since 1993. It is the fifth largest domestic bank, in terms of total assets, firmly established on the domestic market. Raiffeisenbank offers services and products to individuals, entrepreneurs and companies. Raiffeisenbank chose StringData as its partner for automating the entire debt management and recovery process. LoanOffice is a comprehensive system for the provision of legally required cooperation and ensures the oversight, management and control of receivables.
Legally required cooperation is provided electronically. In the context of this cooperation, banks must provide information about debtors to third parties such as executors/enforcement agencies. Raiffeisenbank approached us with a request to map basic needs and priorities. We then developed a procedure and concept for the deployment of system support for all administrative operations relating to debt recovery.
After mapping the entire process, StringData’s internal team proposed a solution in the form of LoanOffice - a comprehensive debt recovery system.Â
The StringData team then developed a procedure and concept for the deployment of the system in cooperation with Raiffeisenbank’s Workout Department, Legal Department and other support teams. The output of this was a definition of the scope of system support and the identification of priorities. This was followed by the deployment of the LoanOffice system in the bank’s architecture and the proposal of further steps. Among other things, the demands of operation, securing the necessary SLA and technical aspects of the project were evaluated.
The analytical phase included process analysis, data analysis for integration and migration and mapping business needs and principles. Modifications of individual areas of system support and the configuration of functionalities supplied as-is were proposed in subsequent stages.
Thanks to the LoanOffice central debt recovery system by StringData, Raiffeisenbank gained a comprehensive overview of clients and related parties with debts being recovered. Another benefit was the control of processes and approvals.
The delivery included a Feasibility Study, an analysis of processes and the needs of the roles involved. It also included a proposal for the customisation of system support and the deployment of LoanOffice, including follow-up service. The main internal customers are the Workout Department and the Legal Department, as well as other support teams at Raiffeisenbank.
The implementation of the product took place from 2010 to 2011, and the product has been under continuous development since 2011.
