Consumer Financial Services Division
US Domestic Commercial Bank
These recommendations were incorporated into the implementation of a new national consumer lending organization.
The loan processing function was migrated from the retail branch network into a centralized operations center. This effort resulted in a 100% productivity improvement and a savings of $19,000,000 in labor costs. The retail branches were converted to sales-focused centers where a disciplined sales management process (from lead generation through closing) was instituted. The result was an increase in average originations per loan officer of 65%.