How long does it generally take to get a completed mortgage? Weeks? Months?
How about reducing a multi-step, time consuming process to just forty minutes?
Thanks to Cloudcase, a sophisticated, rules-driven case management platform, New Zealand’s TSB Bank is able to do just that. In fact, they are the only bank in the world that can originate a mortgage, from contact to contract, in just forty minutes. Nifty, right?
It’s not the only thing Cloudcase can do.
According to Roger Manu, Co-Founder and Principle of Sales at Cloudcase Software Solutions, what’s challenging about pitching the platform is that it has a host of capabilities arising from a hybrid product. On one hand, Cloudcase is a case management platform. On the other hand, it’s also an enterprise-class piece of software that optimises process automation.
“If an action in an organisation requires human interaction to share information and processes between people, Cloudcase can put that into a technological event and automate that process,” explains Roger.
An industry agnostic product, Cloudcase is not a small piece of software that serves only one functionality. It provides onboarding and originations as preconfigured capabilities and can simultaneously handle any process.
“It’s an extraordinarily comprehensive platform due to the way the platform has been written.”
With over 30 years of experience in sales, there’s no doubt that Roger understands the fundamental components of any product he’s selling. With Cloudcase, it’s a matter of “stripping out the mystique” behind the technology:
“We have yet to come across a banking product that we can’t automate through Cloudcase,” states Roger. “The biggest hurdle by far is convincing people we can actually deliver as fast as we say we can.”
“Many think we can’t because they’ve got these precedents; this mindset; this mystique around technology that it must take 2 years to implement a platform such as ours. But it doesn’t. We can do it in a matter of months.”
Cloudcase’s strongest selling point is that the platform is a very powerful rules engine. Its sophisticated computational model means that the technological framework can be configured rather than developed, resulting in a host of capabilities that weren’t previously possible.
“We allow for customers to be converted in real time. We build out a form using rules where you can contribute your data and then have that information confirmed in a fully ‘conversational’ manner – in real time. What can normally take weeks, like applying for a loan, would take only minutes with Cloudcase, as it calculates and recalculates information to reach new conclusions."
Ultimately, Cloudcase can be configured for virtually any product or process and can communicate that information simultaneously and in real time. It’s powerfully innovative because traditional information silos within the financial services industry are challenged by multiple disparate systems, technologies and vendors.
Others are starting to notice too, with Cloudcase having signed on one of the largest banks in the world, one of Australia’s largest finance companies and a smaller credit union in New Zealand all within 6 weeks of each other in late 2018.
“Our software is able to scale from one of the largest banks in the world to one of the smallest financial institutions in the world,” explains Roger, “and has application across any sizeable organisation in both industry and non-industry sectors.”
Perhaps the best example in showcasing the power of Cloudcase’s technology is their recent win in the Pacific-ASEAN Financial Innovation Challenge in May 2019. The challenge asked participants to present innovative solutions for four different financial service providers from the Pacific.
Cloudcase won the Process Automation Award with the National Bank of Vanuatu, ushering in a unique opportunity to make their mark in the Pacific as one of the “best fintech solution providers”, as noted by the jury of experts and representatives.
As of now, Roger is most excited about the global opportunities their partnership and achievements present. “As we start delivering capabilities on a national scale, we fully expect international operations to start taking interest in what we can deliver.”
To find out how you can being your automation journey with Cloudcase, get in touch here.