During lockdown, Banca Ifis accelerated the digitalisation of processes with a fast, efficient and single-channel approach.
The pandemic has led to a strong acceleration of digital adoption by SMEs (as also detected by our SME Market Watch of December 2020) and in the use of remote collaboration systems. As a result, these trends have generated additional demand for speed from customers. Speed was already one of our distinctive features, but the investment in digital instruments will enable us to keep on heading in this direction.
We aim at incorporating new technologies into the Bank’s processes and providing customers with an experience tailored around their business. Digital technology will mainly allow for automated back office management, thus freeing up time to focus people and skills on consultancy activities with a higher added value.
At the end of February 2021, the Bank launched a new digital lending platform for SMEs: an agile and entirely digital service covering all the application processing, assessment and disbursement stages of the loan. Thanks to this new instrument, customers can request and obtain a mortgage backed by the MCC Guarantee Fund remotely and entirely digitally.
The digital lending platform, which is part of the WIfis4business” programme, comes after the extensive digitisation of the Supply Chain, already carried out in 2020 with the aim of enhancing the role of the ‘assigned debtor’ within the supply chain factoring in order to facilitate the operation of the entire supply network.
To issue online loans effectively, Banca Ifis will fully redesign processes in order to create a customer-friendly, simple and immediate environment. The approach will be truly customer-centric, with the focus on entrepreneurs and this will apply to every physical and digital channel, to give them the best possible experience. This way, the Bank will not act as a simple lender but as a partner, to support supply chains and economic recovery.
The path that Banca Ifis intends to take is the right combination of technology and human factor by applying our credit expertise to the digital world: leaving the more operational activities to technology and robotics to improve customer response times, while reducing costs, and focus people on analysis and verification activities, which have a higher added value.