Haulmont delivers custom technology platform to enable TAB Bank’s growth and expansion
TAB Bank has used Haulmont’s CUBA Platform for rapid enterprise grade development since 2016. Following the successful use of CUBA Platform in pilot departments, TAB Bank approached Haulmont to implement CUBA into other areas of the business. The goal was to build a reliable and scalable tech infrastructure for the bank based on modern technologies to support further growth and expansion.
Haulmont developed a custom workflow to capture loan applications made via TAB Bank’s website and feed this data into CUBA to manage the entire lifecycle of a loan from application and assessment through to approval/rejection and notifying the client. To assess the client’s suitability for a loan, TAB Bank uses a scoring system built on CUBA to perform credit checks by assessing data such as income and credit checks from Experian and PayNet. This workflow automates many processes that had previously been labour-intensive to increase efficiency with 85-90% of applications now being approved or rejected automatically.
The system has also been developed to provide risk management services designed to monitor compliance and industry regulation with TAB Bank notified when key performance indicators drop below certain levels.
Through greater efficiency and business process automation, CUBA has provided a foundation to scale up TAB Bank’s services without needing to increase overheads through additional staff to process applications, contributing to the overall expansion of the business.