Process Improvements: Efficient Applications

A sample of where IQ has been able to add value within the application processing (loans environment), includes:

MICRO-LOANS

Loan Application Analysis

IQ has built up extensive experience in mapping and measuring As-Is micro-loan processes, which supports process optimisation, SLA mapping and “low-tech” solutions. Significant benefits were realised by our client within two months, in terms of a reduced micro-loan application turnaround time from six to two days, and in the period that followed additional value was added in terms of improved reporting capability.

Banking Platform Front-End

To fully realise the benefit of optimised processes it was necessary for our client to implement a banking platform front end in order to improve the automation of a solution within the processing area. A phased implementation approach was adopted in which batches of functionality were released. IQ’s intervention resulted in reduced turnaround times, improved quality of applications, automated account opening, improved management of the operations areas and decreased processing costs.

Process Recommendations: Inbound And Outbound Queries Domain

IQ’s process knowledge provided the necessary analysis and recommendations to access information and correct capacity in order to adequately resolve customer queries to enhance our client’s competitiveness. In line with issues identified, recommendations were made in terms of process, technology, personnel and reporting, which produced bottom line savings and improved levels of service, which filters through to other co-dependant areas within the micro-loans processing area.

Process Recommendation: Collections Domain

Our client faced process, reporting and staff management issues within their micro-loan collections area. Inconsistent adherence to processes necessitated a process mapping and analysis exercise. In just two months, IQ mapped and analysed all of the processes within the area and because of this understanding was able to make process, system, reporting and performance management recommendations.

HOME LOANS

Workflow Initiation And External Interface Domain

The high number of stakeholder and role-players affected by the projects required special care and attention being paid to managing the relationship between the parties. IQ assisted in developing an electronic interface between the banking platform, and the workflow tool. Additionally, IQ conducted system testing for the workflow process, created a test matrix and co-ordinated the user acceptance testing, and provided systems integration expertise.

Integration Project

IQ used process and systems integration expertise to integrate multiple systems, in order to automate processes. The team developed the necessary test cases required to test the processes and systems, which meant that the current processes first had to be mapped and the test packs formulated from these process maps.

Workflow Optimisation

IQ used their home loan domain knowledge, dynamic and comprehensive methodologies for process documentation, to optimise existing processes through quick win solutions. Having understood the current processes and the challenges within the home loans environment, IQ was in the position to identify possible inefficiencies and were able to define more efficient and effective future loan application processes. IQ achieved a high degree of client satisfaction and delivered on the project objectives within tight timeframes. Strong team dynamics, commitment to delivery and adherence to standards contributed to the overall success.