Kožený V., Srnec K.
Abstract
One of the most important products of retail banks world wide is the consumer loan. Although its specific process
and execution are largely dependent on local regulations many similarities can be found in the high level process.
In this article we compare the Venezuelan and Czech consumer loan process. From the respective process maps we note
that the first part of the process realized in the branches is very similar. Significant difference lies in the use
of automated application workflow in Czech process in comparison to the mainly manual Venezuelan process. Insufficient
verifications implemented in the Venezuelan process also provide room for improvement. Due to common consumer loan
characteristics and process similarities we can conclude that parts of the Czech process can be applied in Venezuela
in order to remedy its weaknesses.
Key words:
Venezuela, Czech Republic, bank, product, process, credit, loan, retail, consumer, marketing