Loan Origination System -  Project Analysis

Client Need : A top 100 bank was in the process of developing and installing a new loan origination and booking system.  The project was not progressing according to plan, with delivery dates having been missed multiple times. Several vendors were involved in the project, along with bank resources.  BenchMark was engaged to provide an independent, third party analysis of the issues being encountered in project structure and processes and to recommend actions to resolve those issues.

Solution: BenchMark documented the challenges being faced by the project in terms of ownership, focus, project management process, technology, and team morale.  Recommendations were presented regarding processes that should continue, stop or be added to enhance the project and move forward to completion.  Key findings included the need to engage in a formal re-planning process and ensuring that comprehensive test scripts are in place prior to moving ahead.

Results: The client agreed with recommendations and was able to take action.