Customer
Top 20 U.S. Commercial bank
Business Situation
- Large time and effort to perform quality checks for flood zone and other changes to loan portfolio
- Errors in system changes and in meeting compliance requirements (e.g. NFIP flood zone requirements)
Solutioning
- Coforge assessment determined that the Copasys® Enterprise wide QC automation solution would work best for quality control and compliance checks across any process and in this case, specific to hazard insurance process
- Recommended ownership around scoping and implementation of the automation and ongoing governance, change management and support activities
- Recommended data analytics for trend analysis and improving upstream processes
Execution
- Configured application and developed rules based automation customized for the Bank’s testing objectives
- Validated and deployed new automated QC solution for Hazard insurance process into the bank’s production environment
Value Delivered
- Reduction of time to complete QC from
- 45 minutes to 3 minutes for non-participating flood test (20X faster)
- 30 minutes to 3 minutes for flood zone change (20X faster)
- 100% accuracy for test results, next steps, and corrective actions
- CUSTOMIZED dynamic reporting with actionable insights and executive dashboards INTEGRATED to the Bank’s business requirements