FHLB Chicago uses App Modernization to improve security and speed to market
The Challenge
The Affordable Housing Program (AHP) at the Federal Home Loan Bank of Chicago (FHLBank Chicago) helps member financial institutions partner with community developers and public agencies to develop affordable housing in local communities throughout the U.S. FHLBank Chicago desired a solution to replace the mostly manual processes of application initiation, scoring, funding, monitoring, and Federal Agency reporting to gain operational efficiencies and increase the Bank’s competitive edge in the marketplace.
The Goals
Reduce manual effort to process AHP applications
Improve security by leveraging Oracle APEX
Increase speed to market by implementing agile development
The Solution
Working closely with FHLBank Chicago, CEI redeveloped the existing AHP Application with Oracle Application Express (APEX) by defining requirements and coordinating releases.
The new application automated and enhanced policies, procedures, and processes to address:
All applicable federal regulations
A new data warehouse
An electronic audit trail and email notifications
Enhanced, robust reporting functionality
The Results
Using Oracle APEX to redevelop and redeploy the AHP Application allowed FHLBank Chicago to monitor and process applications more efficiently. End users of the application benefited from the increased security offered by Oracle APEX. And, by building rapidly in a collaborative, Agile manner, CEI helped FHLBank Chicago lower operational costs and realize faster time to market.
Within the first year of the AHP Application implementation at FHLBank Chicago:
Nicole DiBenedetto
Vice President – Operations Manager, FHLBank Chicago
The solution that CEI developed streamlined operations by reducing the amount of manual processes and increased security for end users.
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