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To prepare for an acquisition integration and conversion to the AFSVision® platform, a commercial bank requested a best practice review of its loan servicing practices. The bank had significant processing delays due to staff shortages, manual processes and the loss of key leadership. It also needed help with pre-conversion and post-conversion clean-up activities that had gone unaddressed because of staffing problems.
We used our customized Rapid Process Improvement (RPI) framework to perform a broad review of strategy, people, processes and technology—identifying quick wins for immediate remediation, as well as future technology-dependent activities. We also deployed interim professionals to augment staffing in key loan production areas (e.g., syndications/participations, home builder financing, collateral management, document preparation and records management) and lead clean-up efforts.
The review highlighted opportunities to address data quality problems, eliminate manual workarounds and address gaps in technology, staffing and subject matter expertise—all critical areas for the bank ahead of conversion and integration activities. The client subsequently engaged us to implement our recommendations and assist with conversion and integration initiatives.