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Allianz Bank digitizes the processes in business lending in partnership with Software Group

17 June 2021

Allianz Bank Bulgaria in partnership with the global technology company Software Group has launched a project for implementation of a complete software solution for loan application and credit risk management - CreditQuest. The integration of the module for granting loans to small and medium enterprises is part of the long-term strategy for digitalization of the bank and optimization of the processes for granting business loans.


CreditQuest is a centralized system that consists of four basic modules - Credit Manager, Financial Analyst, Rating Manager and Portfolio Manager. The system covers the entire process from the loan application to its disbursement and subsequent management.

"We are pleased to support Allianz Bulgaria on their path to digital transformation with a world-renowned product such as CreditQuest, which is being implemented for the first time in Bulgaria and has exceptional results for banking teams - up to 80% shorter loan terms, 70% higher productivity through standardized and automated workflows, centralized data and 360° portfolio visibility. Thus, banks that use the software solution can significantly increase their loan portfolio and reduce their operating costs by up to 50%," said Kalin Radev, CEO of Software Group.


"The implementation of innovative software solutions is part of the digital transformation of Allianz Bulgaria. It is extremely important for us to respond to market dynamics and business needs. That is why we focus on the efficiency, quality and speed of internal processes, as well as on building IT platforms that customers can use remotely" said Georgi Zamanov - CEO of Allianz Bank Bulgaria.


About Allianz Bank Bulgaria:
Allianz Bank Bulgaria is part of the group of the world leader in financial services Allianz SE and offers its clients a full range of financial solutions. Allianz Bank has a long-term credit rating "BBB +" with a stable outlook, confirmed by the international rating agency Fitch Ratings Ltd. In 2020 the bank ranks in the top 5 of the best banks in Bulgaria in terms of stability, efficiency and sustainability, according to the prestigious ranking of Capital newspaper.
 
About Software Group:
Software Group is a global technology company providing digitalization solutions to all types of financial service providers. Founded in 2009, the company operates 9 offices worldwide and has customers in over 70 countries. The headquarters are located in Sofia, Bulgaria, with regional offices in Australia, Egypt, Ghana, India, Kenya, Mexico, USA and the Philippines. Among the company's clients are organizations such as the Bill & Melinda Gates Foundation, MasterCard & MasterCard Foundation, International Finance Corporation (IFC), Asia Development Bank, Asia Confederation of Credit Unions (ACCU), Access Bank Germany, Atlantic Bank Group, Bank South Pacific, Commercial International Bank Egypt, Dosh New Zealand, EuroBank, Fidelity Bank, Generali, Kenya Commercial Bank and many others.