Appian, today announced that Bendigo & Adelaide Bank, the fifth-largest national bank in Australia, is using Appian to modernize financial service offerings through a series of business applications deployed on the Appian BPM Platform. By leveraging Appian, Bendigo & Adelaide Bank will deploy a dynamic business process management solution throughout the entire organization designed to improve the customer and external partner experience.
Bendigo & Adelaide Bank is an Australian financial institution serving 1.5 million customers in more than 500 communities Australia-wide. Priding itself as a "community bank' committed to socially responsible practices, Bendigo & Adelaide Bank needed a way to update their legacy IT solutions to ensure quality for a diverse range of products and services to satisfy customer needs. The bank is currently undergoing a "Lift and Shift" of its existing BPM solutions on to the Appian application platform in order to create a more modern operating system across the organization.
"Our vision is to be Australia's leading customer connected bank," said Andrew Watts, Executive Customer Service Improvement, Bendigo & Adelaide Bank. "To do so, we must respond quickly to the changing needs of our customers. We selected Appian as a tool that allows business processes to be simplified and implemented quickly using agile approaches."
Appian enables a modern approach to financial service operations, creating a faster time to market for new products and accelerated client on-boarding while mitigating operational risks. Appian's reporting capabilities offer full audit trail views accessible via an intuitive social collaborative interface, allowing employees to have easy access to critical information and make faster business decisions from any device. This approach to custom software allows these organizations to transform business challenges into an integrated workflow-based solution to deliver agile and adaptive products and services desired by customers.
"Financial service institutions continue to find value in custom software solutions to best manage operations organization-wide and maintain competitive advantage," said Matt Calkins, President and CEO at Appian. "By using an application platform to modernize key components of business, Bendigo & Adelaide Bank is able to quickly adopt modern enterprise IT solutions unique to their business in order to preserve a standard of service excellence."
As part of a broader program to provide an automated loans servicing platform for Consumer Lending and Residential Mortgage Lending, initial solutions deployed include the Mortgage Discharge application which provides a process-automated approach to the approval and pay out of mortgages, where fixed business rules route individual cases to the appropriate bank department to ensure mortgage resolutions are provided to customers in a timely manner. Additionally, the Progress Payment application has also been deployed and is progressively releasing construction loans for customers building new houses. Progress Payments are the initial step in the post-settlement stage of the construction loan lifecycle, where mortgage funds from the Bank (the lender) are released in stages during the build in order to reduce risk. The bank is using Appian to manage its process of welcoming new customers to the bank who open accounts online.