The client, a leading mortgage company, sought our assistance to automate their tedious, error-prone back-office tasks. These operations were creating inefficiencies and causing delays in their processes.
Post our intervention, we achieved a significant reduction in processing time, increased the number of applications processed, and improved the transaction accuracy. This transformation led to a 98% faster processing time, greatly benefiting the client.
Story of the Customer
The client, a leading mortgage company, despite its digital front-end operations, heavily relied on manual labor for its back-office processes. This reliance resulted in operational inefficiencies and a higher likelihood of errors due to the repetitive nature of the tasks.
Seeking to improve, the client sought to automate these back-office processes. The aim was to enhance efficiency, accuracy, and ultimately streamline workflow. By eliminating manual and repetitive tasks, they aimed to free staff to focus on more strategic tasks, thus improving overall productivity.
- The company struggled with manual, error-prone back-office processes, causing delays in loan processing.
- Repetitive tasks overburdened staff and limited the number of daily loan applications processed.
- Maintaining accuracy in transactions was a challenge due to the manual nature of the processes.
- Process Automation: Key tasks such as ordering data from credit bureau, reporting fail cases and stopping credit monitoring were automated for efficiency.
- Increased Productivity: Through automation, manual labor was reduced by 50%, leading to a 70% rise in daily processed applications.
- Accuracy and Speed: The automation resulted in 100% transaction accuracy and a 98% reduction in processing time.
- The automation led to a significant 98% reduction in loan processing time, allowing over 500 applications per day.
- The transaction accuracy achieved was 100%, minimizing the risk of processing errors.
- Manual labor was decreased by over 50%, freeing up staff to focus on critical business tasks.