The Client
Top 10 US Bank – client of top 10 worldwide Document Management Company
Challenge
- Coforge was engaged for indexing documents for Recertification of collateral of the bank’s mortgages portfolio segment.
- Soon, the bank raised concern with client on quality delivered and wanted to pull back the project.
- Quality SLA was dependent on two parameters: a)document prep done by onshore team at scanning center b)Coforge offshore team indexing accuracy
Solution & Execution
- SWAT team introduction: Coforge introduced team of seven consultants who were Mortgage document experts.
- Rigorous effort from Coforge SWAT and Ops teams to find root cause
- Detailed RCA revealed gaps in upstream process, which were plugged over the next two weeks through extensive feedback mechanism put in place for every single erroneous case
- Quick ramp up of 150 plus associates within 30 days
- Within 15 days the daily error count reduced from 35 to 5 and ended with near 0 errors by the end of project
- Improved Quality compliance from 93% to 99.50% - 850k documents delivered
- Coforge gained client confidence which resulted in addition of multiple projects
Value Delivered
- Client earned confidence of the large US bank customer and retained their multi-million dollar business
- Coforge engaged for a perennial project to digitize documents for one more large US ban client of customer
- Multiple projects with Coforge BPS have resulted in client saving more than $2M annually
