Addiko Bank Implements Digital Banking Solutions on Appian
Digital Lending and Trade Finance applications cut customer wait times in half
RESTON, Va., BELGRADE, Serbia and LJUBLJANA, Slovenia, May 23, 2018 (GLOBE NEWSWIRE) -- Appian (Nasdaq:APPN) and Addiko Bank, an international financial group headquartered in Vienna, Austria, today announced that the bank has deployed two new digital banking applications on Appian's low code application platform. The applications cover Lending and Trade Finance processes across Addiko's Corporate and Small Medium Enterprise (SME) customers. The applications have reduced customer wait times by as much as 50% by cutting "time to yes" for simple loans down from one week to just three days.
Addiko Bank is the only financial group primarily focused on markets in the South Eastern Europe region (SEE), servicing more than 1 million customers. With these Appian deployments, Addiko Bank is the first bank within the SEE region to provide such a digital banking platform to customers in Slovenia and Serbia. Addiko is also the first bank in the region to offer a fully digitalized Trade Finance application process. Appian makes the processes as simple and efficient as possible, creating a more rewarding experience for customers. Following this initial launch, Addiko will roll out the platform in other countries throughout the region in 2018.
Appian delivers a higher level of intelligent automation, and a shorter time-to-cash for lending and other financial services. In addition, it enables more transparent processes with real-time tracking and better data quality. These features result in faster and better decision making across the bank, while also improving the customer experience. Addiko's simplified loan process enables the bank's Corporate and SME customers to apply for a simple commercial loan for up to EUR 250.000 in just three easy steps.
"Speed, transparency and simplicity are the key goals of these Appian deployments. We are able to improve the efficiency and effectiveness in the Lending and Trade Finance segments and scale digital transformation across our organization. Now we can support our customers' business to the full extent through a single, unified customer interface resulting in a better digital customer experience. Finally, our SME customers will be able to apply for a bank guarantee or a loan online anywhere, even from their mobile devices, and receive the requested product within a short period of time. This really is a game changer in the markets where we operate," stated Georg Kolin, Head of Group Customer Experience and Digitalization.
"Appian has a proven track record of helping banks transform core banking processes and the customer experience with speed and simplicity. We have seen how it is especially effective and powerful when automating and implementing complex business processes that span cross-functional boundaries, as well as geographies," said Dirk Pohla, Regional Vice President, Appian Deutschland.
Watch this video to learn more: https://www.youtube.com/watch?v=35QQtDRtGd8
About Addiko Bank
Addiko Bank is an international financial Group headquartered in Vienna, Austria, operating through six banks with its core business in Croatia, Slovenia, Bosnia and Herzegovina, Serbia and Montenegro. The banking network efficiently provides straightforward for more than one million clients. Addiko Bank is primarily oriented on markets and clients in the SEE region. The holding company AI Lake (Luxembourg) S.à r.l. is the direct parent company of the Addiko Bank AG and is indirectly owned by funds advised by Advent International, a global private equity investor and the European Bank for Reconstruction and Development (EBRD). https://www.addiko.com/
Appian provides a leading low-code software development platform that enables organizations to rapidly develop powerful and unique applications. The applications created on Appian's platform help companies drive digital transformation and competitive differentiation. For more information, visit www.appian.com.
This press release includes forward-looking statements. All statements contained in this press release other than statements of historical facts, including, without limitation, the results to be delivered by the Appian Platform, including a higher level of intelligent automation, a shorter time-to-cash for lending and other financial services, the enabling of more transparent processes with real-time tracking and better data quality, better and faster decision making and an improved customer experience, and the transformation of core banking processes and the customer experience, are forward-looking statements. The words "anticipate," believe," "continue," "estimate," "expect," "intend," "may," "will" and similar expressions are intended to identify forward-looking statements. Appian has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that Appian believes may affect its financial condition, results of operations, business strategy, short-term and long-term business operations and objectives and financial needs. Those forward-looking statements are subject to a number of risks and uncertainties, including, without limitation, risks related to Appian's ability to meet its customers' needs by scaling its business sufficiently quickly, continuing to innovate and provide a useful platform, and providing satisfactory deployment services, risks related to Appian's ability to further penetrate its existing industry verticals, risks related to Appian's ability to meet special standards or requirements imposed by governmental and other highly regulated entities, and the risks and uncertainties set forth in the "Risk Factors" section of Appian's Annual Report on Form 10-K for the year ended December 31, 2017 filed with the Securities and Exchange Commission, and subsequent reports that Appian has filed with the Securities and Exchange Commission. Moreover, Appian operates in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for Appian's management to predict all risks, nor can Appian assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements Appian may make. In light of these risks, uncertainties and assumptions, Appian cannot guarantee future results, levels of activity, performance, achievements or events and circumstances reflected in the forward-looking statements will occur. Appian is under no duty to update any of these forward-looking statements after the date of this press release to conform these statements to actual results or revised expectations, except as required by law.
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