Case Study

Improved turnaround time produces US$136.8 million in additional revenue and $13.4 million in additional profits for large US mortgage originator

Print This Page

Client:
A large US mortgage originator

Industry:
Financial services

Business need:
Reduce turnaround time and increase productivity without negatively impacting accuracy

Genpact solution:
Build and revamp teams, implement new training programs, and install and configure new technology

Business impact:

  • Standardization and simplification
  • Growth and scalability
  • Asset optimization
  • Access to talent

A large US mortgage originator wanted to reduce turnaround time and increase productivity without negatively impacting processing accuracy. Genpact reduced the origination turnaround time by 43% by implementing new process and technology practices, thereby increasing origination productivity and capacity. This increase led to $136.8 million in additional revenue and $13.4 million in additional profit.

Business challenge

  • Reduce turnaround time
  • Improve productivity in terms of loans per person/per day
  • Enact changes with no negative impact on accuracy

Genpact solution

Training

  • Partnered with client trainers and achieved certification
  • Developed CS skill assessments for voice processes
  • Added SME role to assist with training, pipeline management, and escalations
  • Enhanced training content with guidance and materials from client

Take a copy for yourself

Download PDF

People

  • Incorporated behavioral questions in the hiring process
  • Clarified and optimized FLM and processor role
  • Revamped, expanded, and quantified the hiring process
  • Revised incentive structure and payouts tied to business outcomes

Technology

  • Installed and configured software
  • Adapted network configurations
  • Implemented voice recording

Business impact

The solution reduced the median turnaround from 70 to 40 days, and the per-person productivity increased by 70%. This resulted in productivity gains that boosted revenues by $136.8 million and profits by $13.4 million for the US mortgage originator.

For more information, contact: banking.solutions@genpact.com and visit, genpact.com/mortgage

Continue Reading

Ready to
Explore?