The Client
A leading regional U.S. Bank retail/ wholesale origination
Challenge
- Bank Service levels were challenged after loan boarding system up gradation
- With 500+ doc types to on board, accuracy levels dipped & turn times increased
Solution
- Coforge used its SmarTrans framework to implement process changes
- Recommended separation of common document types by headers to reduce types from 516 to 108
- Merged docs categorized into Closing docs, Income docs, etc. to monitor turn time separately
Execution
- PDF doc type converted to “Tiff” format to improve image quality by adjusting print settings
- Identified key-board shortcuts to split and label the pdf documents
- Increased the batch limit to process more documents at one time
Value Delivered
- Improved turn time compliance from 97.73% to 98.73%
- Increased productivity in processing loans (from 220 to 250 loans per day)
- Quality improved from 99.4% to 99.8% 4.Ability to handle 25% additional volume using flexible shifts
