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mBank Hipoteczny
Automating mBank’s covered bonds registration
Who have we helped?
mBank Hipoteczny is a part of mBank Group, the fourth banking group in Poland in terms of assets. The Bank plays a strategic role in the group by securing stable, long-term, and affordable funding for loans backed by real estate. To this end, they issue covered bonds both on domestic and foreign capital markets.
What was the project about?
mBank keeps a covered bonds register, an essential part of the bearers’ debt security system in Poland. A covered pool of residential and commercial real estate loans secures mortgage-covered bonds. There is also the public sector covered bonds register secured by a cover pool of claims related to loans for the public sector. This is how mBank raises long-term funding for the mBank Group to refinance real estate lending.
As this system was complex and demanded extra care regarding its maintenance, mBank approached Altkom to develop a solution ensuring the system’s efficient operation with a 24-fold increase in the number of receivables. Another challenge was to limit operational risks for the bank related to the manual performance of activities by process automation.
What have we done?
The system is currently based entirely on up-to-date technological solutions, with its core in Java 8 and Angular supported with the Oracle database. Thanks to that, bank management can review and quickly adapt to new business needs. As a result, the principal business value added was a considerable reduction of operational risk connected with manual labor within such an extensive process.
What results did we get?
Optimization
Processes optimization within extended data volume without extra staff.
20%
20% time improvement: acceleration of the mortgage bond registration.
Examination
Improvement of the process inspection: a constant examination of each stage .
What technologies have we used?
Oracle
jBoss
Java
CIO at mBankAltkom’s team was communicative during development, prompt in finding solutions after deployment, and collaborative in order to help produce the best product possible. They were agreeable and efficient in their approach and testing, and offered the latest technologies as well.