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CSNC GONE LIVE WITH ACP IMPLEMENTATION IN FCMB

FCMB  one of the leading commercial bank in Nigeria and among the top largest in west Africa with over 300 branches in Nigeria has gone life just as CSNC in partnership with Axe finance have completed the implementation of their ACP. This process with FCMB started about 9 months ago with our specialized technical staff on site to monitor and put them through the entire process. Now FCMB enjoys a superlative as well as a hitch free and well automated lending operational system.

Axe finance credit portal (ACP) is a solution used in the financial institutions and other lending/leasing organizations to enhance operational process efficiency in their transactions. It is a highly flexible credit process automation solution suitable for all types of lending, be it corporate, SME, retail and leasing, ACP fully addresses it. ACP is the only solution in the market that effectively addresses both the operational process efficiency and analytical decisional requirements of lending institutions faced with more and increasingly sophisticated customers, but often weighed down by manual processes or obstinate legacy structure. Credit institutions can increase their competence, develop their market position and increase their profitability by further automating lending decisions and risk measurement techniques.

ACP is designed using modern flexible architecture that ensures ease of deployment and rapid return on investment. It consists of the several fully integrated modules supported by common services for data management, integration and connectivity, alerts, messages, workflow and document management. All through the whole credit process, key value drivers such as speed to market with new products and responsiveness to credit requests are quickly measured. ACP complements a Core Banking System (CBS) and, if already in place, a Credit Rating System (CRS). Whilst some such systems do offer credit process automation features, they often focus on a single type of lending (retail for CBS and corporate/SME for CRS) and the workflow aspects are limited, for example to ratings. They are not flexible enough to quickly implement new products and changes to credit policies and they don’t sufficiently embed requisite credit oriented know-how. As processes evolve and business levels grow and diversify, such systems don’t provide the necessary level of self-sufficiency and independence hence the need for a more flexible and modern automated system.

Legacy systems tend to present a mix of solutions resulting in high integration risk and upkeep. ACP on the other hand offers a unique combination of benefits for many different stakeholders; operationally focused credit managers, relationship managers, and more analytically focused credit and portfolio management staff are all supported and linked together by a single collaborative solution using one process and one risk and credit data warehouse. ACP's modular and integrated nature enables lenders to back test their credit approval processes by having in the same system the collections/recovery processes as well as the whole historical archive of a given loan application and its related collateral files. In addition, modularity which scraps the need for big bang approaches when rolling out new features to users.