Asset Finance
End-to-end asset financing portal for Co-op Bank — application, evaluation, and approvals workflows in a single product.
Background
Before the Asset Finance platform, Co-operative Bank's entire application and approval process was fully paper-based and heavily dependent on physical branch visits. Customers filled out physical forms and submitted hard-copy documents, applications took longer to process due to manual verification, and applicants had no real-time way to track their status.
The reliance on branch visits during working hours made the process inconvenient — especially for business owners and customers outside major urban centres — while bank staff spent significant time managing files, correcting errors, and answering status inquiries. The approach limited scalability and weakened the customer experience.
The Brief
Replace the paper-based asset finance journey with a dedicated digital platform that automates and streamlines the entire customer experience — from application to approval — while integrating seamlessly with internal bank processes.
- →Eliminate physical paperwork with online application submission
- →Help customers estimate repayments before applying
- →Let applicants track progress in real time using a reference number
- →Centralize product information — eligibility, financing limits, and repayment terms
- →Enable customers to apply anytime, from anywhere
Solution
We developed and launched a dedicated Asset Finance digital platform that automated and streamlined the full customer journey. Online application submission removed the need for physical paperwork, while digital loan calculators let customers estimate repayments before they applied.
Application tracking allowed customers to monitor progress using a reference number, and centralized product information covered eligibility, financing limits, and repayment terms. Remote accessibility meant customers could apply anytime, from anywhere — transforming asset financing into a self-service, customer-centric experience that still integrated seamlessly with internal bank processes.
Impact
- →Significantly reduced application time by removing paperwork and branch dependency
- →Improved convenience and accessibility for busy professionals and SMEs
- →Gave customers greater transparency through real-time application status tracking
- →Supported better financial decisions with upfront loan estimates
- →Improved operational efficiency by reducing manual handling and data entry
- →Accelerated application processing and approval cycles
- →Reduced errors associated with paper-based submissions
- →Advanced digital adoption in line with the bank's broader transformation strategy
