CONTACT
Cost to fund reduced from $980 to $850 using SmartransTM approach

1 Customer

  • Top 20 regional US Bank

2 Business Situation

  • Several challenges in loan closing:
    • Delays
    • Doc errors leading to rework
    • Higher cost

3 Solutioning

  • Analyzed Business Operations
  • Deep dive of processes, value stream map, etc. to create solutions and priorities
  • Recommended changes and redesigned workflow e.g. Improved load balancing

4 Execution

  • Validation to remove fee errors during “change of circumstances”
  • System enhancement to create separate queues
  • System validation to ensure that fees are not updated in incorrect fields

5 Value Delivered

Significant direct cost saving
  • Improved Cost to Funding by 13%
  • Days to Fund reduced from 48-55 days to 35-40 days
  • Additional savings from new opportunities identified - $1.34 M
Reduction in errors (which reduced cost to cures from $55-$60 to $12-$17)

We are very appreciative of your commitment to this partnership. Every day yields greater validation that we made the right choice with SLK

COO, Financial Services Company

Need more information about our solutions?
Connect with us today!