Belona Pantbank Making a Shift Away from Manual Processes with our Finance Portal
Belona Pantbank & Their Biggest Challenge - An Overview
Companies in the finance industry often find themselves buried in administrative tasks. Extensive and time-consuming manual processes don't allow them to focus on things that really matter - growth.
Belona Pantbank found itself in a similar situation. This Sweden-based bank offers loans in lieu of gold and other valuables.
Belona started with an aim to offer people a flexible way to pawn their jewelry on market leading terms in very less time. It is one of the most popular pantbank in the market with over 10,000 satisfied customers.
The entire process of providing loans to all of its customers was totally hand-operated. Which means, a zillion phone calls, tons of paperwork, and hampered productivity. Not to forget delays and errors that come with it.
To move away from all the chaos, Belona Pantbank wanted a finance portal that provides all the information to their end-customers at one place.
Project Requirement & Strategy
Our client’s requirement was very clear: they wanted to remove all the mundane manual tasks for increased customer satisfaction.
They partnered with CRMJetty to build a Salesforce custom portal for their WordPress website.
After requirement understanding, and in-depth industry research, we decided on the flow of the portal, and all the functionalities the client needs to fulfill their goals.
Workflow of The Portal
The entire process of providing a loan starts with an end-customer's request for a free pawn bag. The bag basically is just a letter that contains clear instructions and information on the jewelry a customer wants to mortgage.
They can get this form via the client’s website. Based on the information, the company decides the amount that can be paid.
The customer, on the other hand, can login to the portal to get information about the loan. Plus, they can also accept or reject the loan offered.
When a customer accepts the loan, the bank receives a notification. Directly using the custom portal we built, they can pay the decided amount to their customers.
Here’s how the typical process looks like:
The merchant can choose between Authorized.net and Swish in order to pay a loan to their end-customers. After adding the details, the amount gets transferred to the end-customer.
Further, customers can choose to either repay the whole amount or pay an interest rate. If they choose the latter option, day-to-day interest calculation starts. Customers too, can pay their loan using the same options.
This way, the whole process that was earlier handled manually, was streamlined with the help of a custom finance portal.
Final Outcome
Building a custom portal not only helped Belona Pantbank streamline its operations, but also helped enhance productivity. Its employees no longer have to spend hours on such tasks. They can focus more on improving customer satisfaction, and helping the bank grow.
Apart from the crucial functionalities, what has truly helped our client is the smooth interface of the portal - for both the client and their end-customers. With easy navigation, they can quickly accomplish any action.
