20% lower costs while delivering same day turn around in loan servicing requests

The Client

Commercial & Consumer Mortgage servicing division of Top 20 US Bank

Business Challenge

  • Cost pressures, a large variety of requests and poor response time
  • The large number and variety of customer requests per month
  • 27,000 for Residential Mortgage
  • 19,000 for Consumer Loans

Our Solution

  • Re-engineered request fulfillment process into separate queues for loan activities - cash and noncash processes
  • Identified the large variety of requests requiring specialized skills

Execution

  • Staff cross-skilled to perform similar ‘grouped’ functions
  • Monitored pipeline to manage staff and re-allocate resources

The Result

  • Improved overall customer Service
    • Coforge turned around 80% of work within the same day
    • Turn time improved from 5 to 3 days for the settlement of transactions
  • Sustained savings
    • Consistent 20%+ cost savings since the inception of the process
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