-
40%
reduction in cost
-
Around 30%
improvement in turnaround-time SLAs
-
21,500
cases cleared in 6 months
Client Challenges
- The client was facing turnaround time-related SLA misses and an increase in the share of pending tasks due to inadequate knowledge and reporting. Attrition- and knowledge retention-related issues were also leading to increased investment in repeated training sessions. In addition, the client faced issues with collateral booking, tickler exception tracking and servicing backlog, coupled with inconsistent control metrics.
Our Approach
- Completed key-stroke mapping across loan servicing and paid loans operating policies to identify inconsistencies
- Identified handoffs/bottlenecks between servicing due diligence and paid loans teams that were causing a case backlog
- Deployed a pyramid-based offshore SME team based on the complexity of work to design an end-to-end process
- Redesigned process by creating sub-tranches across and within the process by implementing a control framework
- Designed dashboards to track pending cases, turnaround time across segments and quality SLAs along with exception tracking
Value Delivered
- 40% reduction in costs by improving efficiencies across collateral management functions
- 30% improvement in turnaround-time SLA: completed all transactions for booking and release (UCC and NON-UCC) within the turnaround-time SLA
- Collateral release (turnaround time) completed in 28 days versus the previous 42 days
- Backlog of 21,500 cases cleared within six months; inline quality control completed for 100% of transactions
- Operational risk management, with four-eye in-line quality-control mechanism for 100% of transactions, along with implementation of delegation of authority (DoA) and segregation of duties (SoD)
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