Coincidir Servicios Financieros Improves Asset Recovery Rate with ProcessMaker
Company Size
200-1,000
Region
- America
Country
- Mexico
Product
- ProcessMaker Workflow and BPM software suite
- Strategy One - Core Banking System
- Buro de Crédito - Credit Rating Agency
- Círculo de Crédito - Credit Rating Service
Tech Stack
- Workflow Automation
- Business Process Management
- Risk Assessment System
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Customer Satisfaction
- Productivity Improvements
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
About The 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.
The 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.
The 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.
Operational Impact
Quantitative Benefit
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