30-second loan Qorus Banking Innovation Awards 2014 - Winner

30-second loan provides customers with immediate access to additional money in less than one minute via both online and mobile channels, making the loan application as simple as it is to transfer funds from a savings account to a current account. mBank aimed to create a process that would enable customers to obtain a loan whenever they need it in a way similar to making a purchase using Amazon’s 1-click option. To enable quick access to loans, the project team took advantage of its existing process of pre-approving loans. Customers with pre-approved loans can access a quick loan application form, where they can choose a number of instalments and the amount they want to borrow. To make it more convenient for customers who want a loan approved while they are shopping in a physical store, the application form is embedded within mBank’s new mobile banking application. MBank’s 30-second loan application offers cash loans, overdraft increases and the option to repay loans in instalments by credit card.