In 2019, we continued to automate and digitise and optimise lending processes.
At the end of 2019, we launched an antifraud service Gandalf which keeps scanning activity of clients completing loan applications and detects suspicious events and marks a risk of fraud with the client. This is a flexible solution that may be applied in any Banking process and is to mitigate fraud risk. Next year we plan to develop new modules for the service.
In response to legislative changes requiring enterprises to make electronic financial statements, we have offered the possibility to import e-statements from KRS to the Banking system.
We have launched a new restructuring and collection module covering exposures under PLN 1.2 million in a new dedicated head office unit. The new approach supports fast response and assistance to clients before they face major problems. We provide for assistance from the first day of delay, support of a dedicated Bank staff member and clear and flexible restructuring strategies.
In September 2019, we launched a simplified track with automatic decisions for L/Cs and guarantees secured with deposits or funds in advance; as a result, we materially accelerated decisions in those cases.
In November 2019, we completed a pilot project for documentary letters of credit based on the Blockchain technology. With an electronic L/C a client of ours has secured an order from a counterparty from Taiwan. The solution is not yet available in the market but it shows the direction of L/C development to shorten transaction execution, improve communication between the parties and more effectively use credit lines.
For many years, the EU offer of Bank ING has been popular among clients. On 6 June 2019, at the BGK Partner Gala, ING Bank Śląski – as the only Bank – was awarded a prize from Bank Gospodarstwa Krajowego for its commitment in the distribution of EU funds. Our Bank, a leader in financing of innovations among SMEs – in the last EU perspective issued over 250 promises for technological loans and helped finance technological projects for over PLN 1 billion.
We keep working in improving user experience from the perspective in external and internal clients in systems. We have a number of UX enhancements in ING Business, inter alia a new template to account for contractual terms and conditions and the possibility to sign agreements and loan applications on the basis of data updated in real time with the e-KRS service.