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Fast-Tracking Digitalization in AIK Banka Beograd through Open APIs & Modernized Internal Rating

The modern way of living, especially under the current circumstances, requires the highest possible availability of banking products and services as well as their quick obtainability at customer’s request. In the era of digitalization, when we are increasingly encountering new ideas and improvements in business processes, and when new customer needs are created, among others, as a consequence of the challenges that this year has brought, a prompt reaction is more than needed. All this results in reduced time for the deployment of any project in banks.

Over the last year,  ASEE and AIK Banka have responded to the challenges and adapted to new circumstances and working conditions, which results in a successful implementation of OPEN APIs, PSD2 and Internal Rating projects that introduced wider availability of the bank's products and services across digital channels and increased control over cost and risk management.

Open APIs and PSD2 implementation project for superb customer convenience

European PSD2 regulation and Open Banking, combined with European GDPR regulations are forcing banks to both open up and protect their customer's data. Accordingly, the project of implementing almost 200 API methods provided access to information and functionality of the core banking system to other systems and/or applications such as Loan Origination System (LOS), e-banking application, Data Management System and multifunctional ATM. This has also enabled cooperation with a large number of other vendors - participants in the project.

The architecture of the solution also includes the middle layer - HUB GTW, which orchestrates processes across channels and takes care of connectivity to backend systems, while making the bank's touchpoints consistent and more agile for future demands. It also supports two-factor authentication and digital signatures required by PSD2.

Thanks to the implemented project, the products and services that AIK Banka has made available to its customers through the e-banking application without going to the bank include: online cash loans approval, overdraft approval, opening a savings account and depositing funds electronically, approving limits on new credit cards. On multifunctional ATMs, a customer can access their current account and other accounts in their ownership, check the account balance with an overview of previous transactions, withdraw money from ATM devices in domestic and foreign currency, pay due obligations within the bank, and in the near future also conduct exchange transactions.

This has made it easier for bank customers to manage their funds, and on the other hand, it is possible for the bank to reduce operating costs, as emphasized by Bojan Pavlović, Director of the Direct Channels sector, AIK Banka:

“The implementation of the OpenAPI platform by ASEE at AIK Banka is a real example of a good partnership, where innovative technology together with the right business goals leads to creating a simple, fast and modern services offer.

As an illustration of the above, we are pleased to say that the Bank has implemented, among other things, E2E automated online retail loans on this platform, where the process of applying, approving and money transfer of loans for the bank's clients does not take longer than 10 minutes.

The Open API platform now represents the backbone of further development of AIK Bank's digital services, where we can easily and quickly onboard new partners or implement new products. The scalability of the system itself and the easy spread and implementation of new methods and APIs will continue to be the main impetus for the development of the bank's products, where ASEE is an indispensable member and partner of the Bank.”

Paying on SMART safes is another product that will soon become available to corporate clients thanks to the infrastructure set within the AIK Open API project, which has made the implementation time on this new channel much shorter.

Last but not least is the use of the entire Open API implementation also for the deployment of the branch process in AIK Banka. This means that, through the LOS application, all branches have the opportunity to contract and approve the mentioned products.

The bank has not only improved its digital channels but also its points of sale in branches.

The use of APIs represents the future of communication between the core banking system and touchpoint applications that AIK Banka has already recognized in this project:

„By implementing Open APIs and complying with PSD regulations, we can say that AIK Banka bought a ticket for the future. Through exposing APIs, we have achieved the flexibility to introduce new services, upgrade existing and new products, and connect with external service providers, additional channels, and Fintechs. We have migrated to the universal language, understandable to all technological and financial partners and enabled rapid implementation and release for production for all new ideas, improvements and adaptations. We have become closer to our clients and can respond to their needs almost immediately. This is not just one project, this means embracing a new philosophy of business and development. ASEE has confirmed that it is number 1 IT partner of our bank.“ Milan Mirkov , COO, Member of the Executive Board, AIK Banka


With ASEE APIs and connectors that are compliant with the BIAN standard, the bank has expanded and improved its distribution channels, providing customers with greater flexibility, and making it easier for them to manage operating costs

Internal rating deployment for precise and informed planning

Every bank needs to measure credit risk in its business operations. Modern financial management is based on information and results of systematic monitoring, collection, processing and calculation of complex indicators of financial operations.

The basic preconditions for ascertaining the degree of risk and taking necessary measures are determining and verifying customer’s identity, data related to the purpose and nature of the business relationship, duration of the business relationship, financial condition or creditworthiness and other qualitative data and information related to the client's risk profile. The analysis of this data, and the assignment of the customer’s risk assessment is the basis for establishing a business relationship with a client, whether it concerns a private individual, micro, SME or corporate segment.

ASEE, with its InCorso Client Analysis module, provides support to banks exactly in these activities that engage the bank's entire portfolio. Accordingly, Customer Analysis can be used to detect potential causes of problems that can be recorded as warning signals such as late payments, account blockages, liquidity problems, internal rating, deteriorating financial position, deteriorating market position of the client, etc.

In the process of quantifying the credit risk assessment in AIK Banka, based on the internal methodology, the InCorso Customer Analysis module engaged other core banking modules and functionalities (Customer Segmentation, Marketing Segmentation, Campaigns, BC APIs) that contributed to the analysis and calculation of internal rating of various customer segments. This has provided the bank with an opportunity to consider its risks and accordingly plan future business activities as precisely as possible.

The implementation of the backend connector in the Open API project was used in this project as well, which brings immediate availability of the rating analysis results to the process of approving credit products.

This year’s successful cooperation between AIK Banka and ASEE is just another proof of long-standing partnership and further inspiration for future innovative projects to come. ASEE puts a big emphasis on meeting and exceeding our client’s expectations, and is pleased to share the kind words by our client representatives concerning this project:

Biljana Atanasković , Director of the ICT Sector, AIK Banka:

By implementing the Open APIs and the Internal Rating project, we have proven that with commitment and teamwork, both among colleagues in the Bank and among different vendors, there are no obstacles to achieving the best results.

  We at AIK Banka see ASEE as a partner who understands the functional needs of the bank, but also the necessary speed to transform those needs into software code and thus enable the bank to achieve new goals faster. We are proud of everything we have achieved in the previous year.

Jelena Galić , Chairman of the Executive Board, AIK Banka:

In line with the digital transformation strategy, AIK Banka, together with ASEE, has successfully implemented a number of projects over the past year that aim to make a large number of products available to its customers 24x7, without going to the bank via online channels.

Through the Open API project and a large number of API methods, AIK Banka has automated the sale of its products and made them available to customers in just a few minutes, while also laying a good foundation for future integrations with third parties in a very short time. AIK Banka continues to follow the path of digital transformation with adequate evaluation, strategy, implementation and commitment, and sees ASEE as a long-term strategic partner who will accompany the Bank on this journey.