The Client
Leading Top 20 U.S. Regional Bank
Challenge
- Client wanted to improve service levels, manage costs and increase process efficiency
- Challenges across business lines:
- Processing backlogs in Check Services
- Quality issues in Mortgage Loan Closing
- Error in processing lock-box
Solution
- Re-engineered processes and recommended system automation
- Multi-phase, multi-location plan for outsourcing resulting from SmarTrans Assessment
Execution
- Shadow resourcing/ cross training methodology
- Multiple six sigma projects for continuous process improvements
- Performance dashboards for constant monitoring and communication
Value Delivered
- Cumulative savings of $75 million over a 5 year period (40% of onshore cost)
- Integrated IT & BPO solutions, continuous process improvements
- Quality score above 99% for most of the processes
