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1.5 Bank.AI release notes

Release date:

At Creatio, we are committed to empowering our customers with industry-leading product innovations for workflow automation, no-code development, and modern CRM. Today we are advancing new forms of innovation with Bank.AI version 1.5, featuring the following new capabilities and enhancements.

Important

Bank.AI 1.5 is compatible with Creatio Business Studio 10.1 and later.

A comprehensive overview of technical changes and enhancements can be found in the 1.5 Bank.AI changelog.

The update guide for the on-site applications is available in a separate article.

Key updates​

Consistent legal entity profile. You can now help relationship managers see the live relationship with a company by using the redesigned legal entity page. The Overview tab now includes the In progress expansion panel that displays open leads, opportunities, applications, and cases of the company. Creatio now also groups the Liquidated and Blacklisted fields in the Legal status area of the profile and displays a reorganized Entity & business details expansion panel on the Legal entity info tab with aligned captions.

Unified customer portfolio. You can now give front-office and servicing teams a complete view of every product a customer holds, for example, loans, bank accounts, and insurances, without maintaining it manually. Creatio now centralizes this data in the new Product holdings section and on customer pages, together with the participants of each product.

  • Automatic product holdings. Creatio creates a product holding for every loan, bank account, and insurance automatically, keeps it in sync with the source record, and adds the primary contact as an owner. Existing products are migrated in the background after the update.

  • Product participants. Each person involved in a product is recorded as a "Product holding participant" with a role, status, start date, and end date. Available roles are "Owner," "Cosigner," "Guarantor," "Administrator," and "Supplementary cardholder," so you can record co-signed or guaranteed products accurately. The loan, bank account, and insurance pages display a read-only Product participants expanded list on the General information tab.

  • Shared status. A single "Status" column on the Product participants expanded list drives the stage of bank account, insurance, and loan.

  • Consolidated product lists. On the Portfolio tab of the contact page and the Overview tab of the legal entity page, the separate Bank accounts, Investments, Loans, and Insurances lists are replaced by the following lists:

    • Primary products, where the customer is the primary contact or legal entity
    • Related products, where the customer participates in another customer's product

    Product holdings are also displayed on the application full page for retail products as well as the household page.

Product catalog restructuring. You can now give sales and risk teams one consistent catalog across the retail and commercial segments by organizing products into a four-level structure of product family, category, type, and subtype.

  • Product families. Creatio now groups the catalog into five product families: "Deposit," "Insurance," "Lending," "Services," and "Wealth & investment." Every category is assigned to a family.
  • Standardized lookup values. Category, type, and subtype values are standardized and recolored, and values no longer in use are retired.
  • Dependent filtering. On the product page and in the "Launch product selection" business process on the consultation panel, dependent lookups are filtered from the family down to the type, so you can narrow down the product quickly.
  • Product-specific application flows. Applications are now typified by product type instead of category, so each product runs the flow that matches it.

Consistent product parameters. You can now ensure the terms shown on a deal are the terms that were agreed, and let no-code teams adjust the parameter model without code, as the customer request and product terms behave the same way on the opportunity page and both application pages.

  • Unified component. The application full page and the application submission page now use the same Dynamic parameters component as the opportunity page. The legacy parameter module was removed.
  • Preserved constraints. Creatio takes a snapshot of the type, range, and allowed options of a parameter at the moment the parameter is saved, so later changes to the product condition no longer alter the constraints of values that have already been agreed.
  • Reliable parameter values. "Boolean" and "String" type values defined in a product condition are now read correctly instead of being displayed empty. The parameters of a cleared source are deleted when the record is saved instead of remaining as outdated rows. A parameter remains readable with its type and label even after its specification is removed from the catalog.
  • Read-only mode. Every instance of the component now supports a display-only read-only mode that can be bound to the page. The icn_read-only.png icon of a read-only parameter is always displayed instead of only on pointing, and editable parameters are listed first.

Application form management. It is now possible to keep customer data accurate and avoid restarting the application flow because of a single incorrect detail by correcting submitted application forms in both retail and commercial flows.

  • Form correction. Click the Modify button on the application form page or legal entity application page to return an incorrectly submitted form to the "Draft" status. Creatio asks for confirmation, cancels the evaluations in progress, and reopens the form for editing and re-submission. This enables front-office users to fix applicant data without losing the form history or asking the customer for data they have already provided. If the form already belongs to an application, revert it from the application page.
  • Synchronization with customer records. When Creatio synchronizes a form with a contact or legal entity, it now treats phone numbers that differ only in formatting as the same number, so approving a form multiple times no longer creates duplicate records. An ownership structure record now offers only the contacts of the selected legal entity.
  • Automatic form naming. Creatio now numbers forms automatically and names them based on the number, the participant role, and the applicant.
  • Confirmation on application completion. When you click Complete on the application submission page, Creatio now displays the "After this step, the application will be completed and a financial record will be created." message. This prevents opening an account or a loan by accident. If you cancel, the application remains at its current stage.
  • Application forms on the contact page. The contact page now lists every application form where the contact is the applicant in the Product applications expanded list on the Service tab. You can search and export the list, and click btn_add.png to create a form with the applicant pre-set.

Commercial deal management. It is now possible to move commercial deals from a structured offer to a customer-approved proposal along a controlled path, with a recorded risk approval and locked terms.

  • Proposal stage. Creatio generates the "Financial proposal" report from the product parameters, emails it to the customer or creates a task to present it, and records the customer's decision before the deal is submitted for underwriting.

  • Risk sign-off. An internal risk assessment approved by the "Credit risk analyst" organizational role now runs in parallel with the offer structuring tasks. Before that, a reusable "Opportunity completeness validation" sub-process validates that the opportunity includes the product, product parameters, required documents, and an approved KYB evaluation, and names any missing field or document before the deal moves on.

  • Locked terms. Starting from the "Proposal" stage, including "Underwriting," "Contracting," and "Closed" stages, the customer request and the product parameters of an opportunity are read-only. This ensures the terms approved by the customer are the terms that reach underwriting.

  • Commercial lead qualification. The Customer need field of a lead is now filtered by the Sales motion field. The Products expanded list is hidden on commercial leads, since they are qualified through the customer need and its parameters. The following obsolete customer needs are retired:

    • "Payroll card program"
    • "Acquiring"
    • "Payment processing"

Role-based desktops. It is now possible to help sales representatives and front-line service representatives see where their work stands at the start of the day by using desktops built for each role without assembling data from section lists or waiting for reports. Both sales representative and service representative desktops show only data of the current user, so each representative can see their own work rather than the team's.

  • Sales representative desktop. Track your personal pipeline and deal activity using the Open pipelines, Won this quarter, Average won deal size, Sales velocity, and Meetings this month metrics, the Forecast gauge that compares the quarter's won amount against the target, and the Sales pipeline widget. The Need attention list shows deals that have remained on one stage or had no activity for more than three weeks. You can also view your tasks in the My tasks list and create opportunities and tasks directly from the page.
  • Service representative desktop. Monitor your case load and service risk using the Cases at SLA risk, Average case age, Resolved today, and SLA attainment metrics, the My tasks list with the "Overdue" and "Due today" filters, My calendar, and the My open cases by category chart.
  • CSR desktop. The existing CSR desktop remains available and now uses the restructured product catalog and the shared product status.