The Client
Top 20 U.S. Retail & Commercial bank
Challenge
- Large time and effort to perform quality checks for flood zone and other changes to loan portfolio
- Errors in system changes and in meeting compliance requirements (e.g. NFIP flood zone requirements)
Solution
- Coforge assessment determined that the Copasys® QC automation solution would work best for quality control and compliance checks across any process and in this case, specific to hazard insurance processes
- Recommended ownership around scoping and implementation of the automation and ongoing governance, change management and support activities
- Recommended data analytics for trend analysis and improving upstream processes
Execution
- Configured application and developed rules-based automation customized for the Bank’s testing objectives
- Validated and deployed new automated QC solution for Hazard insurance process
Value Delivered
Reduction of time to complete overall QC from
- 45 minutes to 3 minutes for non-participating flood test
- 30 minutes to 3 minutes for flood zone change
- 20X faster for the automated processes
- 100% accuracy for test results, next steps, and corrective actions
- CUSTOMIZED reporting with actionable insights and executive dashboards
