ICA Banken, the recently launched Swedish bank, has contracted with IT services firm Emric for the automation of its credit assessment and underwriting processes.
Emric's credit systems, which have been integrated with the bank's other systems, will form the basis of ICA Banken's workflow, automating the whole credit handling process from application, which can be submitted through several channels (traditional written application, telephone and the Internet), to the underwriting and pay-out.
Emric has also provided ICA Banken with business consultation concerning the establishment of the bank’s lending operations.