Financial Services

Quality

Weaving words and cutting costs, with bots

Spencer Evans, Vice President of Operations at a leading US-based mortgage servicer, was looking for ways to streamline operations, especially to reduce costs and errors in his correspondence management process. Seeking to automate the process and have better quality control on the generated letters to customers, Spencer sought the help of long-time partner Infosys BPM. This case study details how Infosys BPM built a customised automation solution to tackle the challenge, thereby reducing manual efforts substantially and leading to annual cost savings of over $2 Mn.

Approach summary:

  • Grouped 700 unique fields across 500+ letter types into 6 clusters
  • Leveraged automation solution and ESSA framework
  • Built configuration-based robust in-house automation solution
  • Developed UI dashboard for enhanced real-time audit reporting
  • Automated data reading, data extraction, and business validation

Key benefits:

  • ~85 incremental FTE savings, to the tune of over $2 Mn
  • 100% QC coverage of letters with ~99% accuracy
  • Average audit time for loans reduced by 50%
  • Errors reduced substantially, while increasing efficiency