Automating Contract Lifecycle Management in Banking with No-Code Tools

Overview

A leading bank with a wide vendor ecosystem and complex regulatory obligations sought to modernize its contract management process. The bank adopted our no-code automation platform, KodeFast to digitize workflows, reduce manual dependencies, and improve compliance across departments.

Challenges

Decentralized Contract Storage

  • Contracts were scattered across email inboxes, shared drives, and paper archives
  • Retrieval during audits or renewals was time-consuming and error-prone
  • No unified visibility for legal, finance, or procurement teams

Manual Review & Approval Delays

  • Approvals required physical signatures or email confirmations
  • Stakeholders often missed review deadlines due to lack of reminders
  • No standardized workflow across departments, causing bottlenecks

Compliance & Renewal Risks

  • Renewal dates were tracked manually in spreadsheets
  • Regulatory clauses were overlooked due to inconsistent reviews
  • No automated alerts for obligations, leading to missed deadlines and penalties

Solution Approach

  • Centralized Digital Repository via No-Code Interface
      • All contracts uploaded to a secure, searchable cloud-based system
      • Role-based access configured without coding, ensuring data privacy
      • Metadata tagging enabled quick filtering by vendor, department, or expiry
  • Automated Approval Workflows
      • Drag-and-drop workflow builder used to design multi-level approvals
      • Conditional logic routed contracts based on value, type, or department
      • Real-time status tracking and auto-escalation for overdue approvals
      • E-signature integration enabled instant sign-offs without manual follow-up
  • AI-Powered Clause & Obligation Analysis
      • No-code AI modules scanned contracts for risky clauses and missing terms
      • Pre-trained models flagged non-compliant language and suggested edits
      • Obligations auto-extracted and assigned to responsible teams
  • Smart Alerts & Renewal Automation
      • Renewal dates auto-calculated and synced with calendar tools
      • Automated reminders sent to legal and procurement teams
      • Dashboards showed upcoming renewals, pending actions, and risk flags

Results

80% Faster Contract Turnaround

  • Approval time dropped from 12 days to under 3 days
  • Stakeholders received automated nudges, reducing follow-up effort

95% Compliance Accuracy

  • AI-driven clause analysis reduced regulatory violations
  • Renewal alerts ensured zero missed deadlines in the first year of rollout

Conclusion

By adopting KodeFast’s no-code automation, the bank transformed its contract management- centralizing storage, streamlining approvals, and boosting compliance.