The Challenge
The goal for Innovation Norway was to have a modern and flexible solution that simplified and enhanced the credit process. This solution should enable rapid creation of new products while ensuring that regulatory requirements, documentation, and traceability are met in an efficient manner.
Innovation Norway's main task is to facilitate innovation and business development throughout the country. This requires great support systems for case processing and customer follow-up, from application, via analysis and processing, to decision-making and follow-up.
The Solution
Stacc delivers a complete case processing solution that combines our financial analysis and advisory tool for businesses (Corporate Credit Insight) with a highly automated credit process (Flow Credit Process Platform).
The solution includes:
Automated processing of applications for loans, grants, and guarantees
Financial analysis of businesses
Credit process
Registration of pledge
Disbursement
The solution also includes an administration client that makes it easy for Innovation Norway to change interests and fees as well as decision rules that determine whether an application is handled as “green” with automatic approval, “yellow” for manual processing or “red” for automatic rejection.
The solution is also integrated with Innovation Norway's own solutions and third parties to reduce time, costs and risks, increase quality and speed up time to market launching new products and services.
The Result
The goal with the new solution from Stacc is to ensure both a better and more flexible customer experience and a better working day for everyone involved in the financing area in Innovation Norway. Stacc shows that we have forward-looking, competent, and innovative financial technology environments in Norway that can compete against the best and largest in the world in this area.
Leon Bakkebø, Director of Financing and Banking at Innovation Norway.
This is also a development-oriented collaboration that will help enable important ambitions related to our corporate strategy.
The delivery consists of Stacc Corporate Credit Insight and Flow Credit Process Platform. The solution is also integrated with Innovation Norway's own solutions and third parties.
Innovation Norway
Innovation Norway is the Norwegian Government’s key tool for innovation and development of enterprises and industry, helping companies grow sustainably and boost exports by providing access to competence, capital, and networks.
Stacc solutions in use
Project tags
Corporate Finance
Corporate Loan Origination
