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Case Study: Cathay United Bank slashes loan approval time and boosts applications with IBM mobile banking solution
A IBM Case Study
Time to market slashed and loan applications increased with mobile-accessible approval system
Cathay United Bank, a major financial institution in Taiwan, needed to drastically speed up its loan approval and disbursement processes to stay competitive and increase customer satisfaction. They partnered with IBM to implement a smarter solution to address this challenge.
The solution provided by IBM used a web-based loan origination and servicing system, built with IBM software including IBM MobileFirst Platform Foundation and IBM Business Process Manager. This system made the approval process mobile and agile, incorporating risk management policies. As a result, IBM helped the bank reduce the time for account openings and transactions by over 80%, increase loan applications by 73%, and boost approvals by 77%, leading to an industry award for the implementation.
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