Process Improvement - National Specialty Bank
Potomac Point Group (PPG) was engaged by a mid-sized bank to replace a technology capability, so the client could reliably perform consumer loan post-closing tracking of trailing documents and vault storage tracking for legacy loan documents.
Our team conducted stakeholder interviews across multiple business areas to understand existing business processes and the context behind the client’s pain points. Based on this input, our team developed robust use cases and process maps to visualize and inform future state requirements. From there, our team conducted an alternatives analysis to select a solution that would satisfy the document tracking and vault storage tracking business requirements.
Selected solution that allowed client to automate manual tracking of 10+ key data elements per loan
Simplified process to eliminate the storage of loan documents in physical folders
As a result of PPG’s efforts, the client was able to utilize an existing technology in their portfolio to satisfy their desired future state capabilities. In addition to achieving the desired future state, the PPG team helped to simplify the client’s complex processes for consumer loan post-closing tracking of trailing documents and vault storage tracking for legacy loan documents, saving time and increasing automation to reduce human error.