Clearing the backlog of processing customer profiles in large quantities and speeding up M&A-associated activities.
Case Summary
The client, a regional bank based out of Ohio, USA, encountered significant hurdles due to a large-scale merger, leaving a backlog of processing 40,000 customer profiles. SLK’s fast, timely and proactive approach helped the bank clear the backlog within 2 months.
The Challenge
The bank faced the challenge of processing and merging a large quantity of Customer Information Files (CIF). The backlog of 40,000 CIF reviews impacted the M&A-associated activities and their cycle times. The CIF reviews were complex, multi-level and required individual attention. This left the bank with a need of skilled resources to accelerate the process.
The customer needed more skilled resources as well as a better approach to speed up the CIF review and merger process.
The Solution
To combat the challenges posed by the overwhelming number of customer profiles, SLK devised a comprehensive approach that encompassed the following steps:
- Hired multiple resources urgently, completed background verification (BGV) and onboarding in-parallel to scale the human resources quickly
- Completed training within a week with SMEs’ assistance and documentation of the process
- Got a sign-off from the client on a detailed delivery plan quickly to accelerate the overall process
Automation tools were also implemented for ongoing and future CIF review projects.
Business Impact
The implementation of SLK’s approach led to significant improvements in the bank’s situation mentioned below:
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