Loan Servicing Optimization

Client Need : A super-regional bank wanted an objective assessment of the consumer, small business and commercial loan services areas for process improvement opportunities with special emphasis on fully leveraging image workflow enabling technology. Areas designated for analysis included document preparation, post closing support, collateral management and loan systems support.

Solution: BenchMark Consulting documented the current operating environment including workflows, processes and procedures. The client’s current performance was compared to that of industry peers in the Benchmark database. From that analysis, a target high-level design was developed with control point options and complementary technology proposed to position the bank for greater service delivery efficiency and effectiveness.

Results: Annual savings of more than $2 million were identified from consolidation of servicing sites and numerous workflow and process improvement recommendations, which maximized the use of image workflow enabling, where applicable.