COST SAVING OF $5M+ ACHIEVED WITH ORIGINATIONS SERVICES

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CLIENT

A large US bank based in the west coast needed to increase variable capacity to boost market share as part of an accelerated growth plan. They were also looking to improve cycle times and efficiency while reducing costs and increasing CSAT scores.

SOLUTION

Mphasis Digital Risk helped the client with the challenges by -

• Deploying a fully staffed team of 40+ FTE to handle desired volumes across scopes.

• Implementing underwriting in 30 days.

• Establishing centre of excellence (COE) and certification program for all employees, targeted for continuous improvement in cycle times, efficiency, CSAT, and process improvement.

• Enabling handling of complex review types including appraisals and underwriting decisions.

• Deploying cross-trained staff across multiple areas to maintain cost efficiency and utilization levels.

BENEFITS

Our solution catalysed the following benefits for the client:

• Over $5M ($1M annually) in savings over the course of engagement when comparing cost to serve vs. internal fulfillment costs.

• Improvement in loan cycle time by providing services in global shift strategy.

• Ability to flexibly pilot new scopes in a short time frame, and incorporate into steady state based on success metrics.