Case Study - Significant Reductions in Time, Resources and Man Hours with Automated Tools

Situation

Sr. Vice President, Loan Servicing, for a major regional bank with operations in 11 western states.

Critical Issue

Data conversions had been slow and were plagued with problems. Rejects and imbalances were paralyzing the effort and programming was dramatically slowed while 10 people stood nearly idle, all due to this broken process.

Reason

Bank acquisitions are an important part of the company’s growth strategy. Tremendous efficiencies are realized when old systems and data centers are retried. Any retreat from the established timeframe means heavy monetary losses for banks.

Vision

Data conversion processes are generally accepted practices that haven’t changed in years. Through an analysis of the application, Genuity discovered some innovative ways to use latent tools within the system in conjunction with a customized set of applications which would automate the process and improve reliability.

We Provided

A data conversion toolkit was created that included Point and Click Data Mapping, Screen based conversion programs, parameter driven conversion routines, automated balancing between source and converted files, customer notification letters, and IRS 1098 reporting.

Result

Data Mapping to Conversion time with standard conversion processes would be typically 4+ months. Through the newly aligned processes and toolkit, this time frame was reduced to about 6 weeks and the number of human resources needed was only 20% of that of the old process.