Case Study

A leading US bank increases customer satisfaction and reduces credit decision time by 88%

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A leading US bank

Banking and financial services

Business need addressed:
Standardized and streamlined the loan management process in a disconnected legacy system environment, enhance customer satisfaction, and enable accurate compliance tracking and reporting

Genpact solution:
Deployed Genpact’s Risk Assessment Delivery Environment (GRADE) commercial loan optimization platform and reengineered the end-to-end credit decision and loan management process and associated workflows

Business impact:

  • Decreased credit decision turnaround time from nine days to same day response, significantly increasing customer satisfaction
  • Reduced costs due to the Software as a Service (SaaS) model and transaction-based pricing
  • Centralized all services and reporting into an integrated enterprise environment
  • Enabled rapid new product rollouts

A leading US bank required a cloud-based loan optimization platform and a reengineered end-to-end loan management process to help its commercial lending division improve customer satisfaction and to better enable audit compliance.

Business challenge

Over time, the operating environment in a top US bank’s commercial lending division had devolved into a morass of disconnected legacy systems, leading to inefficient credit decisions and slow loan management processes. This sub-par environment required an inordinate amount of manual work and was causing poor customer satisfaction, cost overruns, reduced productivity and inaccurate compliance reporting.

Genpact solution

After a thorough analysis of the existing system architecture and workflows, it was determined that customer satisfaction and audit compliance were impeded most by disparate systems, complex security and data compliance processes; inefficient business process workflows; and manual hand-offs. Through a root cause analysis (RCA), the Genpact team identified the impact of each of the above concerns on compliance adherence and customer satisfaction.

A client-customized cloud-based commercial loan optimization platform called GRADE was implemented to enable fully integrated, straight-through, end-to-end loan processing across the front, middle and back-office functions. This included activities such as lead generation, credit analysis, credit decision, exposure management, pricing configuration, document management and advanced reporting.

The key areas in which the GRADE platform has transformed the financial services firm’s small business loan capabilities are as follows:

Standardized systems and workflows

  • Design and enforcement of automated and optimized business processes, allowing for easy configuration of workflows supporting all 65 standard enterprise workflow patterns
  • Implementation of an event-based workflow system that allows any activity within the system to interact with or initiate a workflow
  • Segmenting of workflows into team queues and tasks supported by the rules engine, enabling skill-based routing, workload management and separation of controls

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Enhanced customer experience

  • Elimination of multiple logins for access to external systems (for example, for fraud checks and financial system analyses) through tight and secure integration of GRADE’s open web services capabilities
  • Full integration with third-party systems, such as, via a service oriented architecture
  • Adaptation to changing business needs through configurable rules and decision tables
  • Accountability, SLA and performance metrics tracking
  • Same day loan decisions for end customers, as compared to a nine-day turnaround time

Improved security and compliance

  • Integration of information technology (IT) systems and corporate identity services, enabling single sign on
  • Enforcement of role-based access control across all subsystems and delivery channels
  • Enablement of strong data encryption and masking to meet compliance and data governance standards for PII data
  • Implementation of digitized and tracked compliance through field level modification snapshots with timestamp and user details

Document management and standardized reporting

  • Elimination of manual processes through dynamically generated documents
  • Complete data visibility and easy document access with versioning, indexing, role-based access and event-based processing
  • Custom scorecards across segments and products
  • Advanced reporting system enabled for real- time tracking

Business impact

The combination of the GRADE loan optimization platform, reengineered processes and workflows and the elimination of manual processes has enabled the client to achieve:

  • Decreased credit decision turnaround time from nine days to same day, significantly increasing customer satisfaction
  • Reduced costs due to the SaaS model and transaction-based pricing
  • Elimination of paper-intensive processes
  • Internal audits with zero infractions
  • Centralization of all services and reporting into an integrated enterprise environment
  • Simplified credit policies
  • Enhanced data integrity
  • Enhanced capability for rapid new product rollouts

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