Business Banking Implementation

Client Need: A top 20 commercial bank wanted to establish a high performance business banking unit in order to execute its growth strategy. The client requested BenchMark's industry knowledge of best practices and implementation assistance to meet this goal.

Solution: After analysis of the current environment, BenchMark recommended and designed an interim paperless workflow including auto-decision underwriting tools using current technology for recommended new business banking products and policies. BenchMark developed the functional requirements of a Request for Proposal that would enable high performance business banking using new technology. The team also created performance management reporting and a staffing model to better manage resources.

Results: Implementation of BenchMark's recommendations will result in annual savings of more than $600,000 and will allow the client to execute its strategy of doubling business banking over the next 3 years.