ABN AMRO Bank reduces time to market for changes in document building blocks from two months to one day
LONDON – 20 May, 2010 – Aia Software (
www.aia-itp.com), a leading author and developer of intelligent document composition software today announced that Celent, a Boston-based financial research and consulting firm, has recognised ABN AMRO Bank‘s implementation of the Aia ITP Document Platform as an innovative use of technology and successful best practice in the competitive financial marketplace. The Aia ITP Document Platform is a pillar of the bank’s award-winning initiative to improve credit proposals and security documentation.
Dutch-based ABN AMRO Bank maintains a diverse, worldwide presence. International consultancy, Celent helps financial institutions create and sustain competitive advantage. ABN AMRO received the Model Bank Award at the Celent Innovation & Insight Day held on May 13, 2010 in New York.
Visible and Measurable Results
To qualify for the Celent Model Bank award, ABN AMRO had to provide quantitative success metrics for the Aia-powered document production optimisation initiative. Proven results include:
• Time to market for content and template changes reduced from two months to one day
• Prevention of data errors and data redundancy by full integration with core administration systems
• Greatly reduced time from application submission to the bank issuing a proposal
• Document creation time reduced by over 25 percent
• Structural cost reduction
“Our criteria for correspondence software were specifically aimed at improving efficiency and quality of credit and loan proposals issued by ABN AMRO agents. The ITP Document Platform was crucial in achieving these results. I am very pleased that this has been recognised outside the bank and now honoured with the Model Bank award” said Rolf Van Ede Project Manager, Credit Risk Improvement Program at ABN AMRO Bank. “We benefit from an improved, streamlined process for review and approval of very complex contracts and proposals, and this gives us an undeniable competitive advantage.”
ITP Document Platform Streamlines Document Creation and Management
The overhaul of credit proposals and security documentation workflow was driven by regulatory and Basel II requirements and by business demands for control and reuse of content and data within customer communications. Previously, final documents were drafted and corrected manually, which did not allow adequate checks in the document or corrections in the core application. Now, the ITP correspondence output solution makes it possible to modify data in the core application and simply re-generate the corrected document.
ABN AMRO employs a central browser-based application to process credit and loan requests. The Krediet Expert Model (KEM) covers the entire credit and loan life cycle, from request, risk valuation, price modeling and offering to acceptance, revisions and monitoring. The browser-based ITP Document Platform interface for interactive document creation integrates seamlessly with the look and feel of KEM. As a result, users quickly move forward with greater productivity.
In addition, the server-based ITP repository for document templates, content and text blocks facilitates a streamlined, business-controlled, fully electronic process for creation, maintenance and approval of credit and loan correspondence. Business users in legal, credit security and other departments provide the variable content for the interactive documents.
“We are proud to contribute to ABN AMRO’s success with their documentation initiative. The project was delivered within an aggressive time frame of just seven months, and quickly brought major productivity improvements to an important aspect of their business,” said Aia Software CEO Paul Dirven.
