Small Business Change Management and Implementation

Client Need: A top 10 bank was concerned with the underperformance of its small business delivery channel. Key areas of concern included better leveraging its branch channel, streamlining operational processes and modifying credit policy without compromising portfolio quality.

Solution: Besides constrictive credit policies and a lack of process scalability, BenchMark identified technology as a hindrance to channel performance. To remedy technology issues, user requirements for a new loan origination system were developed integrating process redesign elements to achieve scalability. BenchMark provided the client’s project management group with change management skills to ensure timeliness in project deliverables. Finally, with Credit Administration, BenchMark revised current credit policy to remove constrictions to decisioning scored and traditional applications and to integrate short- and long-term credit policy changes.

Results: Fully integrating all process and policy changes over the next 1 to 2 years would increase originations by $2.5 billion, enable back office efficiencies of $3 million and a loss-avoidance opportunity of 15%.