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Customer Story: Piraeus Bank

Process Mining in consumer loan process

“We brought QPR to the picture, when they came in, they helped us a lot. We gave the data of the system, and right away, in 5 minutes, we saw the bottlenecks of the process.”

Locating process bottlenecks and tackling automation challenges

With complaints arising after implementing robotic process automation (RPA) and automating the consumer loan process, Piraeus Bank was eager to find the answers to its process problems.

Using QPR's process mining software, QPR ProcessAnalyzer, Piraeus Bank located root causes to problems in 5 minutes. Based on these findings, they are now cutting the process lead time by 86% to stay competitive in the market.

"We have automated the process of consumer loans, and we all thought that we are very good,and have happy customers, and that the process was ideal. And out of the blue, we had complaints from the customer, the business, the branches of the bank. So, we were like, what's going on? We brought QPR to the picture, when they came in, they helped us a lot. We gave the data of the system, and right away, in 5 minutes, we saw the bottlenecks of the process."

 

 

Challenges

  • What does the process actually look like?
  • Where are the key bottlenecks?
  • Why isn't the automation initiative performing according to plan?
  • How should we monitor rework?
  • How can we identify deviations?

Solutions

  • Start process mining with QPR ProcessAnalyzer
  • Set relevant KPIs
  • Set targets for improvement activities

Business benefits

  • Cut the loan application process from 35 minutes to 5 minutes (on average)
  • Identify process bottlenecks in 5 minutes
  • Cut lead time by 86 %
  • Make fact-based decisions

Customer interview & presentation

In this interview, Lambros Bessas shares with us the reasons why Piraeus Bank embarked on the process mining journey.
(6 minutes 30 seconds)

In this presentation, Lambros Bessas takes us on Piraeus Bank's process mining journey of consumer loans automation. Lambros addresses the business challenges Piraeus Bank had, what kind of a solution they came up with, what unprecedented results they have achieved, and what their plan is for the future. (25 minutes)

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