Replacing excel-based credit insurance workflows at a leading South African bank
In four months, Genesis replaced spreadsheet-driven credit insurance processes with a controlled enterprise application. The new platform delivered real-time exposure visibility, automated premium tracking, stronger audit controls and reduced operational risk across the insurance portfolio.
THE CHALLENGE
Spreadsheet-driven operations increased risk
The bank’s team managed policy tracking, premium payments and insurer limits using Excel-based workflows.
This created structural operational risk:
- Limited version control and audit traceability
- Manual reconciliations across portfolios
- Increased likelihood of reporting errors
As a portfolio complexity increased, manual processes constrained growth and elevated compliance risk.
THE SOLUTION
Integrated Credit Insurance Application
By consolidating data and embedding governance, the bank transitioned from manual to controlled execution.
The platform enables:
- Automated premium tracking and scheduling
- End-to-end policy lifecycle management
- Embedded workflow controls and approvals
Project highlights
BUSINESS IMPACT
Reduced operational risk and strengthened compliance oversight
Following deployment, the bank significantly reduced operational risk across its credit insurance function and met internal audit and compliance objectives. Outcomes included:
- Eliminated manual re-keying and fragmented data handling
- Improved productivity through automated workflows
- Consolidated real-time view of exposures and insurer limits
- Reduced likelihood of human error through embedded controls
- Lowered risk of regulatory scrutiny linked to reporting gaps