Bank of Bhutan is the oldest and largest commercial bank in Bhutan with over 37% market share. Intellect implemented an end-to-end credit decisioning system for both retail and SME line of businesses on a single platform.

Bhutan is one of the world’s fastest growing economies and has demonstrated consistent rise in its macroeconomic indicators. The government’s push to encourage development of private sector is expected to drive growth in the Retail and MSME sectors. Looking at the changing market scenario, Bank of Bhutan saw the need to improve its processes with integrated risk management capabilities and faster processing. The solution was expected to provide them with internal credit checks, credit scoring, rating and compliance checks that fall in line with the Royal Monetary Authority (Central Bank of Bhutan) guidelines.

Bank of Bhutan selected Intellect’s Digital Origination for complete business automation of its loan origination system bringing about a paradigm shift in the bank’s credit decision making process. Intellect Digital Origination is a state-of-the-art workflow-based Credit Origination and Processing system that helps Banks to streamline and standardize its origination processes across multiple lines of business on a single platform. It eliminates data silos, reduces turnaround time for application processing, controls operational cost through streamlined customer on-boarding and improves customer experience through enhanced Straight Through Processing. The solution offers strong integration capabilities with different credit and statutory hosts and legacy systems over a variety of protocols for a seamless flow of transactions.

Ms. Karma Dema, Director, Bank of Bhutan, emphasised on the importance of the project to the bank. "Intellect’s digital led innovative approach allowed us to support our growth strategy and loan quality initiatives as we position ourselves to take advantage of the market” says Ms. Dema, “The configurable aspects of Intellect Digital Origination solution has enabled us to minimize inefficiencies and errors due to manual processes and upgrades our overall data integrity controls which provides us to deliver a quality customer experience. With Intellect’s system, our customers can now apply for a loan anywhere, anytime using any digital medium; for instance with mBoB loans are now a click away.”

Rajesh Saxena, Chief Executive Officer, Global Consumer Banking, Intellect Design Arena, said, “Intellect Digital Loan Origination enables Bank of Bhutan make instant credit decisioning for faster evaluation and disbursements. With automation and Straight Through Processing, Intellect’s digital led solution can enable the bank deliver improved customer experience bringing down the TAT around loan approval and providing a 360 degree view of the customer exposure. Our Digital origination system is flexible and scalable to meet the challenges of technology, regulations and growing customer demands in the Bhutan market.”