OREANDA-NEWS. February 28, 2013. NOMOS-BANK is launching the Credit Conveyor system to streamline and speed up the processing of small business credit applications. The project is to be implemented at the Perm branch and at two branches in Moscow for two months.

Credit Conveyor, a group-wide system for processing credit applications that is integrated with the databases held by the national credit bureaux covering the retail market. The Credit Conveyor enables.

NOMOS to streamline and speed up the processing of retail credit applications and has contributed to the rapid growth in the retail loan book.

The Credit Conveyor system is a unique solution, which combines an individual approach to each client, standardization of the documentation process, assessment of potential borrowers and decision-making on loan applications.

The Credit Conveyor will help to speed up by 30% the application verification process and the preparation of documents for signing.

“There are examples of credit conveyor implementations with scoring schemes on the market, but primarily in the micro-credit segment. We have extended the opportunities of Credit Conveyor system to small business segment, including the middle and upper segment,” says Roman Lesokhin, Head of Small business segment at NOMOS-BANK. “Implementation of such an advanced solution is an important step in our growth strategy, increasing the speed and quality of loan applications consideration, reducing the operational risk and improving the transparency of the credit process. This will allow the Bank to simplify business technologies, improve its loan portfolio quality and customer service.”

The Credit Conveyor is a system for processing credit applications that is integrated with the databases held by the national credit bureaux. The procedures of checking and financial analysis of the potential borrowers, preparation of regulatory documents and collateral documentation processes are automated.

The Credit Conveyor also includes a complete financial module which contains the borrower’s full financial history, a tax module, monitoring module, which are available for the Bank’s managers and provide instant access to analytical data.