Consumer Lending Project Management

Client Need: The consumer finance division of a super-regional commercial bank holding company required subject matter expertise and project management support to centralize and automate consumer loan funding. Recent cases of fraud and inefficiency in the existing pre-booking funding review process underscored the business need.

Solution: BenchMark provided subject matter expertise and guided the cross-functional team through business requirements definition. BenchMark also developed a project plan and led the cross-functional team in the pre-implementation project phases.

Results: The pre-implementation phases of the project were completed according to plan. Savings of $1 million annually are attributed to reduced branch workload, improved sales opportunity and through centralization and work flow improvements. Reductions to document exceptions, payoff exceptions and fraud losses have resulted and enhancements such as electronic funding for lien payoffs and direct deposit to borrower’s accounts have been implemented.