Loan Servicing Consolidation

Client Need: A $5 billion, multi-charter bank was experiencing a high cost of delivery and inconsistent service and cycle times from multiple loan servicing sites. Management information was fragmented; project management tools and techniques were absent.

Solution: BenchMark Consulting documented the current operating environment including workflows, processes and procedures across the multiple sites. The client’s current performance was compared to that of industry peers in the BenchMark database. From that analysis, work processes were re-engineered, service level agreements were established and loan servicing was consolidated to a single site using client implementation teams. BenchMark developed a staffing model and trained management in its use. Consolidated executive level management reports were designed and employees were trained on project management tools and techniques.

Results: Loan servicing centers were consolidated, processes were standardized and interdepartmental service levels were improved resulting in a 20% reduction in operating expenses.