Consumer Loan Operations Tech and Process Performance Improvement

Client Need: A top ten banking group in partnership with its loan accounting system software provider hired BenchMark to review its consumer loan operations performance related to peers and the industry. In addition, the client was interested in determining how it might better utilize the loan accounting software to enhance its day-to-day operations.

Solution: BenchMark Consulting documented the current operating environment and compared it to that of industry peers utilizing its ‘high profile’ client database. A software Product Support Specialist provided technical expertise on features and functionality to determine whether the client was optimizing software use.

Results: The client was a top performer in all processes reviewed resulting in a limited $85,000 of quantifiable benefits from the BenchMark opportunities and change recommendations. However, the client and software vendors both achieved their objectives to better understand performance related to the industry and total utilization of the loan accounting systems features and functionality.