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S&T Poland has signed a contract with Bank Gospodarstwa Krajowego (BGK – the state development bank) for the implementation of “OSWUP”, a data-transaction system designed by S&T. The project includes a pre-analysis, the infrastructure with database licenses, as well as training for end users. The technical support for the system is 24 months.
BGK was founded in 1924 and is a state owned business development bank. BGK supports the local guarantee funds as part of its legal duties and in the context of a government program. A cooperation agreement signed between the National Guarantee Group, which consists of the largest guarantee funds, and the bank will improve the exchange of information and involves the actual IT project.
OSWUP, a data-transaction system developed by S&T, will go live at BGK on January 1, 2011. This proprietary S&T solution improves the provision of guarantees and the customer service, speeds up risk analysis and facilitates the monitoring process. The data is available in real-time now and time limits to obtaining information have been removed which speeds up the decision-making process. The guarantee funds will be able to provide more guarantees.
“I think that S&T will create a sophisticated tool that will practically facilitate and speed up the daily work of all organizations involved in the process”, said Robert Kozinski, Deputy Director of the Guarantee Center at BGK.
Optimizing the process of granting guarantees increases the supply of guarantees and has a long-term impact on the growth of entrepreneurship in Poland.
“The national system supporting the credit guarantee is a milestone for guarantee funds. The process of controlling the provision of guarantees and monitoring them has become difficult or even impossible. Thanks to the new system, getting a guarantee will be less laborious and faster, which improves the quality of our business services. There is a significant role for the OSWUP system in increasing the transparency of guarantee funds in Poland”, said Tomasz Czarnik, President of the Silesia Regional Guarantee Fund Sp. z o.o.
The OSWUP solution will also be used as a reporting tool, enabling funds to generate reports and funds’ owners to review and evaluate them. In 2009, the funds in the National Guarantee Group granted a total of 5,052 guarantees.