Financial

QUICK OVERVIEW

Below is a small sample of some of the projects in the financial sector. Each project had different personalities, different objectives, various time frames and funds available. Some projects required raising additional funds, changes in management, clearer strategies and milestones that were set and adhered to for their success.

Qualification Software

Challenge - Clients were leaving the financial institution's website due to the lack of preliminary qualification and types of loans a potential borrower should consider. This was lowering their ability to generate qualified leads for their loan officers and reducing the loan volume. Discovery - We reviewed customer comments, interviewed loan officers and managers to gather the most data to determine the needs of the customer and how best to serve them. We reviewed the loan programs they offered, and compared them with the competitors. Approach - Understanding their system, security and website we were able to provide an application to quickly give potential clients an overview of the various loan programs offered, based upon the potential clients input provide what they could qualify for and schedule a time to meet with the loan officers. Solution - Integrated the app with their system. This increased the amount of time a potential client stayed on the website, helped pre-qualify, set up appointments to meet with loan officers and increased loan volume.

Integration with Enterprise Resource Planning (ERP) system

Challenge - Bank wanted to implement an ERP solution but was concerned by problems other banks experienced with implementing. Discovery - Reviewed various bank systems, determined integration requirements. Approach - With the basic understanding of the multiple systems used, the integration possibilities and the recommendation to start with a pilot test at one of the branches. Solution - Implemented pilot test, reviewed results with management and proposed a slow roll out, measured results and then fully implemented. 

Standardized loan package for financial institutions

Challenge - Financial institution had multiple loan packages and many of their clients would submit their own. This increased the amount of time to enter into their database, review the package, qualify the borrowers, submit to underwriting and get approval. Discovery - Reviewed various requirements from the loan officer to underwriter and the client’s comments to determine the most comprehensive and easiest for the client package. Approach - Understanding the needs of the client, we developed a user friendly app to allow clients to fill out information and produce the set of documents needed for the loan package. Solution - Implemented the app which reduced time, gave a standard uniformed package and increased loans approved.

Client retention program

  Challenge - Financial Company was losing customers because customer service was unable to remove, lower or fix a charge on the customer’s account. All decisions were made by a supervisor or management. This would take time, frustrate the customer and increase communication to resolve the issue. Discovery - Interviewed customer service reps, supervisors and management. Reviewed customer comments from multiple sources about fees and how they were treated. Approach - With the information gathered and analyzed, a recommendation and dollar amount limits were set in the system Solution - The system would allow a customer service rep to remove fees up to a certain amount (which covered most of the requests), supervisors had a higher amount they could approve. This reduced time per customer on resolving issues and made the customer more satisfied.  

Re-Design Website and Apps to increase services clients use

Challenge - Financial institution was struggling to get their customers to use more of the services they offered. Discovery - Reviewed website, interviewed employees and loan officers and reviewed customer’s comments. Approach - After gathering the data we determined the website needed to be re-designed and an app was created to interact with the customer to get their input on additional services they would like to have. Solution - Implemented the re-designed website and the app. This increased awareness of the additional services available and increased the use of these services.