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Case study Implementation of the Elbos and Sign+

TurboConsult s.r.o. (TC) has successfully implemented a project titled Implementation of the ELBOS Banking System and Commissioning of the Sign+ Service in a newly established consumer loan provider, Bohemia Energy Finance s.r.o. (BEFIN).

 

Project Objective

The objective of the project was to implement the ELBOS information system to support provision of non-banking loans and to integrate the system into the existing ICT infrastructure. The customer requested a completely “paperless solution”. For this reason, the existing Sign+ service was used to manage loan documents and sign them with dynamic biometric signatures. BEFIN also put emphasis on speed and efficiency of the entire business process, i.e. creation and conclusion of new customer contracts and their immediate transfer to the system for approval.

 

What are ELBOS IS and Sign+

The ELBOS system offers comprehensive functionality to support operations of a universal bank, credit union, or non-bank loan provider. It consists of a set of specialized modules covering individual operational segments in a financial organization. The supplied solution may consist of a single specific functional module, but it may, of course, be made up of a large number of interconnected modules constituting a complex system capable of fulfilling the role of the core operational information system of a financial organization. An integral part of the project is integration into the customer’s existing ICT infrastructure.

Related link: ELBOS

Sign+ is a comprehensive service for the management of documents (document sets) and distribution between cooperating organizations, as well as for signing selected electronic documents with dynamic biometric signatures.

Related link: Sign+

 

BOHEMIA ENERGY FINANCE

Bohemia Energy Finance is a non-banking financial company that has been offering consumer loans to the customers of Bohemia Energy since 1 July, 2015, mainly to finance household investments leading to energy savings, such us purchases of new appliances.

Bohemia Energy Finance belongs to the Bohemia Energy group of companies and its aim is to provide high quality financial services to customers of Bohemia Energy, the largest alternative energy supplier in the Czech Republic.

Related link: http://www.befin.cz/

 

Project Description

The main goal of the implementation project was to implement and launch the system by 1 July, 2015 (i.e. 3 months after the signing of the contract) so that the customer could start providing non-banking loans. Another goal was to complete the entire implementation project including the functionalities used in the other stages of the lending process by 31 December, 2015. The implementation project was therefore divided into three stages.

Each of the three stages was built on the same scenario consisting of analytical work and drafting of an Analytical study, implementation of necessary changes/settings in ELBOS, integration of the final solution into the ICT infrastructure, and acceptance testing. In spite of the extremely short time available for implementation, the system was successfully put in live operation within the agreed deadlines in all three stages.

The output of the first stage was the preparation of the basic system functionality, which had to be able to support concluding and management of consumer loan contracts. This stage also included integration with the Sign+ service. This meant that within 3 months of the launch of the project, the customer’s business representatives were able to conclude consumer loan contracts online and the consumers were able to draw on their loans upon approval. The entire process from the moment when a loan contract is signed until the approved amount is credited to the consumer’s account takes less than 3 workdays in standard cases.  The output of the second stage was the addition of the reminders and penalties functionality including links to the accounting system. The output of the third stage was a complete system with all functionalities according to the project scoping. During this stage, the existing solution was adapted based on the feedback from business operations and the system was further supplemented with functionalities for managing communication with clients and with grading functionalities.

Thanks to extremely good cooperation between TC and BEFIN, the project was implemented in scheduled time and it became another successful implementation of the ELBOS system and the Sign+ service in the financial sector.

 

 

Customer’s statement

The project to implement and launch a non-banking loan system was very ambitious from its inception, particularly from the perspective of the amount of time available for the implementation and launch of live operation. The project required close cooperation with TC during the preparation of analytical studies and also during the subsequent implementation and acceptance stage. The cooperation proceeded very well, all agreed deadlines for deliveries were met and this allowed to launch the system live on 1 July, 2015. Subsequently, further two stages of the project took place, which were also completed in agreed deadlines. The entire implementation of the ELBOS system in Bohemia Energy Finance s.r.o. was thus completed by 31 December, 2015. The system proved to function successfully during live operation launched after the first stage and both the conclusion of contracts in the ELBOS Sale module and also biometric signing of documents in Sign+ functioned as expected. Upon completion of the entire project, all required functionalities were created also in the core loan module ELBOS Main and their functionality was verified in live operation in the beginning of 2016. We consider the project to be very successful.