#Romania #SAS #Bucharest #Nexent Bank #Credit Automation

Nexent Bank Streamlines Lending Process with SAS

Nexent Bank, a renowned financial institution in Romania, has embraced a cutting-edge AI platform developed by SAS to revolutionize its lending operations. In an increasingly competitive market, Nexent Bank identified the limitations posed by traditional systems and manual processes, prompting them to seek a modernization strategy that could enhance operational efficiency and improve customer experience.

A Modern Approach to Credit Decisioning

With the adoption of SAS's AI-powered platform, Nexent Bank aims to facilitate real-time credit decisions, ultimately boosting the speed and accuracy of loan approvals. Before this transformation, customers endured waiting periods of days for credit decisions. However, with the new system in place, the bank can now process loan applications in mere minutes. This fundamental change not only enhances customer satisfaction but also minimizes the risk of default, leading to improved portfolio performance.

Florentin Codin, Head of the Risk Modeling Division at Nexent Bank, emphasized the bank's commitment to making banking more accessible and efficient: “With SAS Viya, we've transformed our credit decisioning process into a strategic advantage – one that's fast, fair, and fully aligned with our vision to provide mobile-first experiences backed by on-prem, real-time intelligence.”

Rapid Implementation and Transformative Outcomes

The transition to this modernized system was quick, taking only six months from the initial strategy development to its implementation. Working in agile sprints alongside SAS and a local implementation partner, Nexent Bank has already realized numerous benefits. Here’s a closer look:

• - Real-time decisions: The ability to approve loans within minutes drastically improves customer satisfaction, while also reducing abandonment rates.
• - Enhanced risk assessment: Advanced machine learning models allow for greater accuracy in credit risk management, providing deeper insights into borrowers' creditworthiness.
• - Increased operational efficiency: By automating 70% of credit card limit approvals, the bank has significantly decreased manual workloads, allowing staff to concentrate on innovation and customer engagement.

Future-Ready with SAS Viya

The flexibility and scalability of SAS Viya equip Nexent Bank to adapt to evolving regulatory environments and refine their models continuously. The integration of cloud and on-premises capabilities ensures that the bank remains agile in a fast-paced industry.

Nexent Bank’s transformation is an exemplar of how intelligent automation can enhance, rather than replace, human oversight in banking. The risk modeling team, empowered with hands-on ownership of analytics and decision workflows, can now introduce new lending products independently. This autonomy accelerates time-to-market and fosters a culture of continuous innovation.

Upholding Responsible Innovation

According to Stu Bradley, Senior Vice President at SAS, financial institutions face the challenge of balancing automation with accountability: “Nexent Bank proves these goals are entirely compatible when guided by responsible innovation and AI ethics.” Through the intelligent integration of SAS Viya, Nexent Bank is not just improving their processes; they are also enhancing regulatory confidence and customer relationships.

Conclusion

Effectively managing credit risk is crucial for maintaining the stability and reputation of financial institutions. Nexent Bank’s modernization efforts using SAS Viya show that banks can leverage automation for greater efficiency and compliance while fostering growth. This integration serves as a foundational shift that promises better decision-making, augmented performance, and stronger, lasting customer relationships. As a pioneer in the niche banking sector, Nexent Bank continues to adapt and thrive, setting a robust example for the industry on how to navigate the complexities of modern banking.

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About Nexent Bank
Nexent Bank, formerly known as Credit Europe Bank, is recognized for its niche banking services tailored to international customers. Established in the Netherlands in 1994, it has developed expertise in emerging markets, serving both corporate and retail segments. With operations in seven countries, Nexent Bank employs over 900 professionals focused on customer satisfaction.

About SAS
SAS is a global data and AI leader, committed to empowering organizations to transform data into trusted decisions. With its industry-specific solutions, SAS enables businesses to harness the power of informed decision-making.