Case Study - 30% Improvement in Daily Collection Agent Efficiency without New Software or Systems

Situation

Sr. Vice President, Credit & Collections, for a $50 billion bank.

Critical Issue

The vendor of their collections system stopped providing support for the legacy COBOL application. The bank was looking at $5-10 million to upgrade to a new, supported application that would also increase staff effectiveness.

Reason

Application migration is complex and costly. The bank made a choice in a new vendor and saw its estimated costs for integration rising as fast as the number of problems with integration itself. The company needed options to the runaway implementation.

Vision

After speaking with all the stakeholders and gathering requirements and wish lists, Genuity proposed that the bank make several enhancements to its legacy system that would provide the capability it needed to stay competitive while also making the agents more efficient.

We Provided

Genuity was able to immediately provide no fewer than six major enhancements to the old application getting it back up to speed quickly while also committing to everyone, one of the items on the bank’s wish list. Genuity also provides the company with a blanket maintenance program to ensure the application’s integrity and health for years to come.

Result

The result was a 30-35% increase in efficiency for every agent across the call center on a daily basis. The company also saved an estimated $10 million dollars in new application, consulting and integration fees.