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Mortgage Case Study

SBS brought down loan processing turnaround time from 3 days to 1 day for leading Australian mortgage and financial services company

The Client

The client is one of Australia’s leading mortgage and financial services distribution companies. The company offers diversified services of mortgage lending, aggregation & processing with over $20 billion loans under management.

Challenges
  • High turnaround time
  • Quality and accuracy issues
  • High operating costs
  • Need for process improvement
  • Business continuity requirements
Solution

Our on-site study identified the reasons for pain and designed a be-spoke engagement strategy Efficient communication, process documentation, training and a robust IT infrastructure plan were implemented to support the pre-credit process migration.

Impact
  • 60% savings on manpower costs, partly due to process improvements and partly on account of wage differentials driven by offshoring.
  • Since communicating the lending decision quickly to the customer was the main value proposition for the company, Sundaram Business Services brought down this turnaround time from 3 days to 1 day.
  • More efficient processing of different distribution channels led to greater understanding of overall client database
  • Sundaram Business Services delivered above the standard level of quality and accuracy which is over 90%.