Case Study: Instituto de Crédito (ICO) processes 80,000 online SMB credit applications in 6 months with Bizagi

ICO processed 80,000 online credit applications in its first 6 months for 140,000 SMBs

ICO, a Spanish government‑funded credit agency, needed to get cash flowing to small and medium businesses hit by the global financial crisis after credit lines froze. Facing the risk of widespread bankruptcies, ICO set out to launch a customer‑centric online credit application—rapidly—so businesses could access finance before it was too late.

Working with Bizagi and PwC, ICO launched the Financial Facilitator in eight weeks: an automated, anytime‑anywhere customer portal that streamlines application, credit analysis and workflows while ensuring regulatory compliance. The platform processed over 80,000 applications in the first six months (140,000 in year one), cut process time by about half, enabled pre‑approved submissions to major banks like BBVA and Santander, and delivered real‑time KPIs for faster decision‑making.

Instituto de Crédito