Case Study: Reducing lending inquiry-to-close lead time to drive portfolio growth.
$20+ Billion Banking Corporation
March 24, 2020

Challenge

Achieve double-digit portfolio growth through significantly reducing customer lead times and improving the customer experience through digital transformation.

  • Lending lead times significantly longer than peer group, restraining customer conversion and growth rates
  • NPS was last in the major market and outside the top 10 in digital only market

Approach

“Reimagine the end-to-end customer journey and business value stream”

  • Understood current state service blueprint: front stage customer journey and back stage value stream
  • Defined target state service blueprint to achieve desired performance outcomes
  • Rapidly designed and delivered solutions to realize target state (e.g. 10x improvement in auto-decisioning rate)

Results

“28% portfolio growth within 6 months”

  • 94% reduction in deal lead time
  • 60% increase in customer conversion
  • 164-point improvement in NPS to #1 in market

New end-to-end process reduced annual operating expenses by $35m and materially improved operating risk

Final Thoughts

16-week initiative resulting in permanent cross-functional Customer Experience team investment to drive continuous innovation and transformation.

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