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AL Finans

AL Finans selected Nobly and OnBase as its IT platform

As a finance partner in personal and business leasing, factoring and loan financing, AL Finans is subject to strict regulatory requirements from the authorities in areas such as AML.

To comply with current legislation and future legal requirements, AL Finans has chosen the future-proof IT platform OnBase as part of the foundation of the company’s digital workflows, risk classification and document management. Nobly was responsible for the implementation of OnBase; this resulted in quick response times, freed up considerable staff resources and enhanced risk classification.

AL Finans operates in a high transaction environment where secure and efficient case management and rapid response times are crucial to competitiveness. The decision to step on the digitisation accelerator culminated in a strong partnership with the consultancy firm Nobly in autumn 2020.

“Our approach from the outset was a desire for a state-of-the-art anti-money laundering (or AML) system. We needed close, consistent screening in our onboarding and due diligence processes, from PEP screening and sanction screening of customers and beneficial owners of companies, to screening of terrorist lists, etc. – all so that we can automatically identify risk classifications and comply with the legislation that is constantly being updated. We had a look at various systems that specialise in AML, but we quickly decided on OnBase. As a platform, OnBase provides us with a well-oiled engine for handling AML, but is also an integration platform, integrated with our customer-facing systems. At the same time, OnBase is capable of so much more, and opened up a whole lot of other possibilities for us as a company. The decision was basically quite easy for us, considering the many future possibilities of automation,” says Johan Ploug Aagaard, Director of Strategy and Business Development at AL Finans.

The flexibility of OnBase was put to the test shortly after the first part of the implementation, with new, tougher legislation on citizenship reporting. Adding this to the existing risk classification was easy and trouble-free, as were the other operational features that were subsequently added to the system.

Saves 2,300 hours of manual entries

In the past, risk assessments were handled manually in Excel, which was a very resource-intensive process. Today, all workflows are digital and automatic when AL Finans receives a loan application. The customised OnBase solution posts to relevant databases, after which a risk classification is produced automatically. Meanwhile, employees can focus their time on more value-added and customer-facing activities. The entire optimised process flow was created in close collaboration between AL Finans and Nobly, resulting in considerable time savings:

“Based on the number of applications that came through in 2020, we can look forward to saving at least 2,300 staff hours per year, even in this first phase of our digital journey with Nobly and OnBase. Saving time is one thing, but quite another is that we’ve achieved consistency and better quality in this work simply because it’s been digitised. Users feel it’s great that they don’t need to spend time on manual entries and a lot of manual posts; instead, they can spend time talking to and advising customers. The faster we can come back with an answer, the better – the result is satisfied customers and, of course, competitive advantages. We have become more efficient and can simply handle more cases per employee, which means we can grow the business further with the same number of employees we already have,” says Johan Ploug Aagaard.

A supplier with industry insight

As Europe’s leading OnBase consultancy firm, Nobly specialises in business-critical IT solutions for industries including banking, finance and insurance. This was duly noted when AL Finans was looking for its future collaborator.

“Nobly won our trust primarily from their great insight into the industry we’re part of, and especially thanks to their AML expertise. This field is constantly evolving in our industry and can present challenges when we have to respond quickly to new legislation. The more easily and simply we can implement the regulations, the smoother and faster we’re able to serve our customers – which is crucial in our industry. Nobly brought this understanding into the partnership from the outset. It was reassuring to meet a supplier with insight into both the industry and the requirements we have to meet,” Johan Ploug Aagaard explains.

OnBase as a catalyst for digitisation

AL Finans has big ambitions for ongoing digitisation of the business, with OnBase as a central solution.

“Our entire customer archive will be transferred to OnBase, to provide a 360° view of all customer relationships, leasing and loan contracts, signed documents, etc. In future projects, we will also need to integrate more ongoing due diligence into our risk classifications. When we are able to screen our customers according to various critical parameters on an ongoing basis, we also know what kind of risk we are dealing with. At this stage, we’re creating risk classifications at the point of onboarding, but we want to make this more dynamic in future projects as a continuing process throughout our portfolio. This way, over time, we will have the right customers on our books and we’ll always have our finger on the pulse of the portfolio. OnBase is an important part of our future-proofing and growth engine,” Johan Ploug Aagaard concludes.

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