Design and proposal of a centralized end-to-end Application for Limit (AFL) platform for Eastern Bank PLC

Abstract

This internship report, done in Eastern Bank Plc, is an in-depth assessment and proposal of a centralized and end-to-end automated platform dedicated to the generation of Application for Limit (AFL) memos within the Corporate Division. The current manual process requires the collation of data from different sources like Finacle, CIB reports, Financial Reports and Bank Registers, thus taking three to four days for a single memo and is prone to errors and delays in procedure. Moreover, the entire process of AFL creation up to final approval takes several months due to the complexity of the memo. The proposed solution envisions a fully integrated, centralized digital portal that has the capabilities to automate the entire AFL lifecycle. Core functionalities include data extraction from pre-existing banking systems, generation of memos through standardized one click templates, real time status update of the AFL throughout the approval hierarchy, and automation in terms of notification. Anticipated benefits include; reduced number of times required for the preparation, shortening of the credit approval cycle, reduction of human error to a minimum and facilitating predictive analytics for the future credit risk. The project included process mapping in its entirety, precise data collection from Relationship Managers (RMs), Assistant Relationship Managers (ARMS) and head of MIS, data field analytical review, and feasibility analysis. Additionally, recommendations for phased implementation of the workflow were articulated, using programming tools like Python and Application Program Interfaces (APIs). By adopting this initiative, the bank stands to significantly improve relationship managers' productivity and efficiency in their area of operation related to high value corporate lending. Keywords: Application for Limit; AFL automation; Corporate banking; memo generation; end-to-end process automation; Centralized banking system.