Financial Services

Know your customer. And, maximize revenue. Increasing regulations and competitive pressures on today's networked marketplace require financial services organizations to move faster than ever to increase operational efficiency, drive customer loyalty, and speed time to revenue for new financial products.

Today's financial services environment can be complicated with multiple business units, legacy systems, and dozens of enterprise applications that not only must work together but also give management the business insight necessary to drive timely and accurate decision-making. The need to improve automation and visibility across internal, departmental, and correspondent systems and agents only builds with every transaction.

BPM Opportunity

Financial Service providers are increasingly looking to BPM not only as a solution to specific, immediate process improvement objectives, but as a platform that gives them the ability to tackle diverse process improvement initiatives and realize the following benefits:

• Better target and serve your customer. Economically streamline the end-to-end client management process and guide employees through decision-making process with dynamic process coaches.
• Enable Straight-Through Processing. Business rules in processes can help automate the routing and processing of tasks — often reducing the amount of human intervention needed by over 80%.
• Extend the value and life of core systems. Leverage existing applications by reading and posting transactions while introducing more efficient Web-based forms and interfaces.
• Enable collaboration across and beyond the enterprise. Automatic work routing and notifications across groups, outside agents, and customers reduces the time, errors and complexity of executing processes.
• Gain real-time visibility and control over processes. Managers can view real-time process performance and proactively manage bottlenecks.
• Create an audit trail. Detailed process reporting provides complete picture of the process including activities, systems, and participants.

Lombardi In Action

A large home mortgage provider strives to meet the financing needs of home buyers through excellent customer service and a variety of loan options. However, due rapid growth, the recent re-finance boom, and a corporate merger, the mortgage company needed increased visibility into process performance to reduce the time it takes to process a loan application - from origination to post-close. With their Lombardi-powered BPM solution, the mortgage provider has reduced process delays, decreased processing costs, and increased their ability to respond to business changes.