Automotive Credit Management

About FORUM

FORUM Financial Services is a BBVA Group company founded in Chile in 1993. It provides auto loans and leasing solutions to individuals and companies for vehicle financing, including passenger vehicles, commercial vehicles, and motorcycles, across both new and used segments. These services are offered through brand representatives and authorized dealers

FORUM operates through a nationwide network of 360 dealerships and 665 points of sale across Chile, generating annual revenues of approximately US$300 million as of 2020.

 

PROJECT OVERVIEW

FORUM undertook a tactical digital transformation initiative aimed at strengthening its automotive credit management process, with the following objectives::

  • Enhance the sales experience of its credit platform as the primary goal.
  • Optimize credit processes to support growing demand as the second most critical objective.
  • Develop services to simplify integrations with dealers, accelerating commercial growth.
  • Create a set of internal services to enable a modular and scalable application architecture.

To meet these objectives, Tecnova implemented a solution that fully aligned with the client’s expectations. By leveraging an agile development strategy, an incremental roadmap based on MVPs (Minimum Viable Products) was successfully defined and executed.

As a result, Tecnova proposed a comprehensive delivery strategy built on the following pillars:

  • Close collaboration with business users to define the new user experience and translate it into wireframes, establishing a solid foundation for front-end development.
  • Design and execution of an API-first strategy to decouple business logic from the presentation layer, using REST standards.
  • Development of an architecture model that incorporated service security through 3scale (Red Hat).
  • Definition of a Continuous Integration (CI) model to streamline and optimize releases to testing environments.

 

Functional Scope

From a business perspective, the new platform covered the implementation of the following core business process groups:

  • Quotation: Entry of basic customer data, calculation of installment amounts, and generation of printable quotations.
  • Application: Preparation of the quotation for evaluation, capture of additional customer financial information, and submission for risk assessment.
  • Evaluation: Including Middle Office activities such as automated evaluation, customer admission for assessment, approval and rejection workflows, and appeal processes.
  • Pre-Disbursement: Assignment of promissory note numbers, document generation (e.g., simulations, promissory notes, pledge mandates, insurance proposals), and customer signature.
  • Disbursement: Onboarding into the portfolio, accounting closure, payment of the transaction to the dealer, and related operational activities.

TECHNOLOGIES USED

Technical Project Details

The system was implemented using a layered architecture, encompassing the presentation layer, business services, and persistence.

From a technology standpoint, the solution leverages JAVA/JEE and Angular 6 as core development languages. REST services were deployed on Red Hat Fuse, supported by 3scale (API Management), Red Hat JBoss EAP, and an Oracle Database as the persistence layer.

 

If you’d like to learn more about this success story or about our experience delivering services for this industry