30% reduction in staffing and 99.5% accuracy achieved in financial statement spreading

The Client
Credit and Risk division in Commercial Banking Group of a Top 20 U.S. Bank
    • Commercial loans - reclassifying client's financial statements into Moody's risk analyst template to analyse the company’s financial position
    • Needed to normalize the inconsistent financial statements with high accuracy
    • SmarTransTM methodology to transition the process and become operational in 3-4 weeks
    • Engaged qualified & experienced resources with knowledge of financial analysis
    • Detailed process checklist created to reduce and track errors
    • Structured training plan to quickly on board new hires and/or changes in spreading guidelines
Value Delivered
    • Operational cost reduced
      • 30% reduction in staff compared to client’s team
    • Assured quality and turn around time
      • Coforge offered an SLA of 1.1 spread per hour
      • Quality maintained at above 99.5% consistently
      • Prioritized turn time for new loans, < 12 hours