Recently, Boss Li in Tongchuan Road Seafood Market of Shanghai was very happy recently because he just received the personal business loan of RMB 3 million from Industrial Bank (IB). It is the smoothest and most efficient one that he feels in cooperating with various banks with regard to loans. Only providing the bank statement of the settlement account and the certification for the purpose of loan, he received the approval result within three days. This is really a totally different experience compared with the big pile of loan application materials and approval time lasting for 10-15 days before.
As introduced by a customer manager of IB, customers with sustained good credit standing record like Boss Li can apply for loans via the “green approval channel” of IB. Boss Li has borrowed a personal business loan with the bank before and repaid the money promptly. Meanwhile, based on post-loan inspection, IB is confident in the stability of Boss Li's family and business. Therefore, the loan can be extended if he provides bank statement and transaction contract to prove that his sales scale and loan purpose are compliant. The basic materials of him and his business including ID card and business license have been entered into the backstage database of IB upon the previous loan, and the officers responsible for the approval can check them at any time, so it is unnecessary to ask the customer to provide them again.
“As for old customers with loan history and good settlement situation, the procedure can be further simplified in such way that an old friend enjoys privileged treatment. If only they have stable businesses, it is not necessary to stick to the entire existing procedure. The control of dynamic risks is prepositioned by way of post-loan examination. Such active procedure reforging enables our bank to improve the efficiency of approval for personal business loans significantly,” the director of the Retail Banking Management Headquarters of IB further introduced. The main works of improving the internal procedure of the bank's “Business Express” personal business loans are to delaminate customers and provide differentiated services. On the one hand, different norms for examination and approval would be formulated by discriminating the risk differences between new and old customers and between solid and weak guarantee. On the other hand, a system for the management of photo archives of retail credit has been developed and all credit archives would be screened and put under electronic management. An archive library for credit customers would be established to provide strong technical support for further simplifying the loan procedure and carrying out refined post-loan management.
As the leading product of the integrated financial service solutions under “Business Express”–IB's brand of financial services to small- and mini-sized businesses, the “Business Express” personal business loan has always been committed to improve the service level in the two aspects of functional innovation and process improvement since its release. Such innovative products as “Business Express” fast loan, “non-local pledge”, “one business, two loans” and the repayment method of “principal repayment in installments” were all developed based on the actual needs of merchants. While filling the blank of domestic market, these products have won high recognition of merchants. With this procedure reforging, IB strives to break through the extensive management model characterized by “one procedure for all customers”, and encourages customers to establish long and stable cooperation with IB so as to enjoy the corresponding convenient and fast services.
As shown by some data, the “Business Express” personal business loan has won great popularity in the market. By the end of September 2012, IB has extended such loans of more than RMB 130 billion to support a total of over 80,000 business owners in various industries: garment wholesale and retail, catering service, building material and home decoration, supermarket, general merchandise, small commodities and wholesale of agricultural and sideline products.
IB indicates that it will continue in developing “Business Express” vigorously and building it into the No.1 brand at home to provide integrated financial services to growing business owners, so as to boost the flourishing development of individual private economy. This will also bring sustained power for the bank to push ahead the "two transformations” of business development model and profiting model and improve the business structure and customer structure.