“ HOW WE SIMPLIFIED MANAGING DAY-TO-DAY FINANCIAL OPERATIONS FOR CREDITAS BANK USING DAFOS ”

In 2012, we created the dafos web application for creditas, allowing hundreds of complex financial operations to be processed daily. how did we proceed?

CHALLENGE: FROM THE CREDIT UNION TO THE BANK image

CREDITAS BANK was established at the turn of 2016 and 2017 by the transformation from the largest domestic campaign - the 1st Třebíč savings bank, which has provided loans and other financial services to its clients for more than 20 years.

Prior to the official launch of the services, the Bank tested its own request processing system by the back office. This is the financial heart of the whole bank; dozens of employees check the correctness of payment submissions, manage accounts, handle customer claims and requests from other departments, and provide many other operations.

Monthly test traffic has shown that its own system - based on e-mail communication - is not efficient. There was a chain of responses, and the staff often did not receive reports. In addition, due to the manual processing of most financial operations, workers often made mistakes when entering payment orders.

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SOLUTION: OWN INFORMATION SYSTEM image

After evaluating the pilot operation, the bank decided it needed an internal management system for task management.

In 2012, CREDITAS management approached us with a demand to create a new system. The application criteria were as following:

  • cooperation with the methodology and procedures of the Czech National Bank
  • environment corresponding to valid legislation
  • possibility of connection to other banking applications

We faced a number of challenges in designing the system. We had to:

  • understand the nature of a number of financial operations and how they are processed by bank staff
  • understand the technical and legislative limitations of banking processes
  • Investigate the mathematical nature of financial operations

Our initial analysis was carried out in close cooperation with experts from the department of financial administration, risk management or accounting. The first version of the system, named Dafos, was created x weeks after receiving the request. In addition to functionality, we tuned the user interface and gradually adapted Dafos to its users.

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RESULT: WORKFLOW IMPROVEMENT image

Dafos enables back office staff to process hundreds of requests a day, making it much easier for the entire department to work.

We regularly update the application from the beginning and adapt it to the current trends in the banking market. We continue to cooperate with CREDITAS - we are currently preparing the integration of Dafos with other banking systems.

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Application features
  • Up-to-date overview of financial operations
  • Immediately inform clients about transactions
  • Support for subsidy accounts, forex, repo and money market operations and bond operations
  • Support for the calculation of FX position and bond position
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