ProcessMaker Case Studies Coincidir Servicios Financieros Improves Asset Recovery Rate with ProcessMaker

Edit This Case Study Record

	Coincidir Servicios Financieros Improves Asset Recovery Rate with ProcessMaker ProcessMaker

Coincidir Servicios Financieros Improves Asset Recovery Rate with ProcessMaker

ProcessMaker

Technology Category	Analytics & Modeling - Predictive Analytics Application Infrastructure & Middleware - API Integration & Management
Applicable Industries	Finance & Insurance
Applicable Functions	Procurement Sales & Marketing
Use Cases	Predictive Quality Analytics Regulatory Compliance Monitoring
Services	Software Design & Engineering Services System Integration
Challenge	Coincidir Servicios Financieros, a microcredit institution in Mexico, was facing challenges in managing their loan verification process. The process was manual, time-consuming, and lacked precision, leading to low recovery rates on loans. The qualification criteria for allowing a line of credit was not always met, resulting in only 10% recovery of every $2 million borrowed. Coincidir needed an effective and comprehensive risk analysis process to prevent them from taking on high-risk loans. They also needed to minimize their timeline for loan approvals to take on more accounts and improve customer satisfaction. The new workflow process needed to be duplicatable and flexible to accommodate any new credit services Coincidir might decide to offer their clients in the future. Read More
About Customer	Coincidir Servicios Financieros is a microcredit institution and financial intermediary for the Mexican Financial System. They provide a range of services for the financial needs of different sectors including personal credit, health credit, direct credit for SME (European Monetary System International), agricultural credits, and savings and investment services. Coincidir has experience operating development bank funding lines for over the past 13 years. As a microcredit institution, a large portion of their business is dedicated to extending loans to those without a formal income and little or no credit history. Read More
Solution	Coincidir implemented ProcessMaker, a leading Workflow and BPM software suite, to automate their form-based approval driven processes and interconnect existing company systems. The first stage of the ProcessMaker implementation was completed in only 6 weeks, allowing Coincidir to get up and running quickly. With over 100 ProcessMaker users in the 250-employee company, these processes directly impact roughly 40% of Coincidir. ProcessMaker allowed Coincidir to pursue new business channels. Since initial implementation, they have expanded the credit types offered within their processes. ProcessMaker is now a deeply embedded part of their institution and company culture. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Predictive Analytics

Application Infrastructure & Middleware - API Integration & Management

Applicable Industries

Finance & Insurance

Applicable Functions

Procurement

Sales & Marketing

Use Cases

Predictive Quality Analytics

Regulatory Compliance Monitoring

Services

Software Design & Engineering Services

System Integration

Challenge

Coincidir Servicios Financieros, a microcredit institution in Mexico, was facing challenges in managing their loan verification process. The process was manual, time-consuming, and lacked precision, leading to low recovery rates on loans. The qualification criteria for allowing a line of credit was not always met, resulting in only 10% recovery of every $2 million borrowed. Coincidir needed an effective and comprehensive risk analysis process to prevent them from taking on high-risk loans. They also needed to minimize their timeline for loan approvals to take on more accounts and improve customer satisfaction. The new workflow process needed to be duplicatable and flexible to accommodate any new credit services Coincidir might decide to offer their clients in the future.

About Customer

Coincidir Servicios Financieros is a microcredit institution and financial intermediary for the Mexican Financial System. They provide a range of services for the financial needs of different sectors including personal credit, health credit, direct credit for SME (European Monetary System International), agricultural credits, and savings and investment services. Coincidir has experience operating development bank funding lines for over the past 13 years. As a microcredit institution, a large portion of their business is dedicated to extending loans to those without a formal income and little or no credit history.

Solution

Coincidir implemented ProcessMaker, a leading Workflow and BPM software suite, to automate their form-based approval driven processes and interconnect existing company systems. The first stage of the ProcessMaker implementation was completed in only 6 weeks, allowing Coincidir to get up and running quickly. With over 100 ProcessMaker users in the 250-employee company, these processes directly impact roughly 40% of Coincidir. ProcessMaker allowed Coincidir to pursue new business channels. Since initial implementation, they have expanded the credit types offered within their processes. ProcessMaker is now a deeply embedded part of their institution and company culture.

Impact #1	Improved control over loan verification process
Impact #2	Reduced time for loan approvals
Impact #3	Increased flexibility to accommodate new credit services

Impact #1

Improved control over loan verification process

Impact #2

Reduced time for loan approvals

Impact #3

Increased flexibility to accommodate new credit services

Benefit #1	Improved asset recovery rate from 10% to 90% in first month of usage
Benefit #2	Total Portfolio Turnover increased to over 50% after using ProcessMaker for their workflow
Benefit #3	At the current rate, lines of credit are reconstituted after less than two years

Benefit #1

Improved asset recovery rate from 10% to 90% in first month of usage

Benefit #2

Total Portfolio Turnover increased to over 50% after using ProcessMaker for their workflow

Benefit #3

At the current rate, lines of credit are reconstituted after less than two years

Download PDF Version

Overview

Coincidir Servicios Financieros Improves Asset Recovery Rate with ProcessMaker

Operational Impact

Quantitative Benefit