National Australia Group
Problem:
National Australia Group’s (NAG) Group Home Loan Centre (GHLC) were manually processing mortgages in the back office. With 150 people it was proving to be a difficult situation to manage with manual processes. The risk of errors and slow down in service were extremely high. A separate team was devoted to service each different bank within the UK and Ireland and senior management realised that there was an urgent need drive efficiencies, reduce operating costs, implement process driven environment and also implement a solution which could help the bank meet its growth targets.
Solution:
The business was awarded to Rockall Technologies as it was deemed that the Rockall solution addressed the problems outlined above plus brought additional benefits as the bank’s business has grown. The department was reorganised into a number of teams to process mortgages. The first team looked after introduction, the second team managed up to cheque issue, the third team on-going maintenance and so on. This meant specialised teams were in operation and each team looked after all banks. Rockall’s Collateral Management solution fitted perfectly into this reorganisation and was instrumental in cost reduction and increased throughput.
Being an "out of the box" solution meant that it was a robust solution which had been extensively tested in the market therefore reducing the overall project risk plus reducing the time to going live. This included the migration of hundreds of thousands of their existing collateral items to the Rockall solution.
Benefits Realised:
- Control of the collateral processes with less skilled staff
- Extended to the Business Banking as well as the Home Loan Centre
- Significantly Improved risk management, control of LTV (Loan to Value)
- Better customer experience – faster access to funds
- Pro-active management of Collateral
- Significant reduction in costs
- Basel II compliant
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