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A leading regional bank facing significant operational challenges and sought to improve its commercial loan servicing capabilities in advance of the integration of an acquired bank. The client faced a significant backlog and delays in loan servicing due to the legacy system’s limited capabilities, loss of subject matter expertise, staff shortages and highly manual processes put in place to compensate for the lack of system functionality and integration. The goal of the engagement was to optimize the servicing organization, resolve process inefficiencies and control deficiencies, uplift and upgrade the loan servicing platform, improve data quality and management, and create a clear roadmap to transform the business.
We worked closely with the bank’s stakeholders to facilitate sessions that documented both the current and future-state operating models. Through this collaborative effort, we defined a clear target-state vision and developed a comprehensive roadmap outlining specific initiatives for immediate remediation and long-term process improvement.
Utilizing our customized Rapid Process Improvement (RPI) framework, we conducted an end-to-end assessment of the bank’s commercial loan servicing operations. This analysis identified key inefficiencies and opportunities, allowing us to implement immediate “quick wins” while aligning longer-term enhancements with the bank’s future technology implementation.
To modernize servicing capabilities, we conducted a market analysis and recommended a best-of-breed servicing system for legacy portfolios. We also led the AFS Vision conversion project, guiding the development of business requirements, system workflows and test cases. Throughout the system conversion lifecycle, we provided project management support to ensure a seamless transition, mitigate risks and align the new system with the bank’s long-term strategic goals.
By upgrading the current loan servicing system, as well as improving loan servicing processes and controls, the bank was able to streamline its loan servicing process, eliminate manual processes, reduce the backlog of servicing requests, release thousands of collateral records and remediate hundreds of quality control issues. We worked with the client to develop a set of solutions to not only uplift their loan servicing capability but to drive efficiency and enable a successful bank conversion.