The Challenge
Breaking Through Legacy Roadblocks
The client is a leading regional bank with a robust presence in the Northeast, Midwest, Southeast, and West Coast. With $114.4 billion in assets and $73 billion in loans, the bank offers a full suite of retail and commercial banking services and operates over 400 branches.
Despite its prominent market position, the bank faced several hurdles. A backlog in the mortgage division, spanning third-party services, underwriting, processing, and post-closing, led to delays in critical services. The COVID-19 pandemic added to the strain, with a surge in customer inquiries overwhelming call centers.
Additionally, increased volumes in HELOC queues during 2021 caused prolonged turnaround times, requiring immediate intervention to sustain customer satisfaction and operational efficiency.
The Outcome
Driving Efficiency and Exceptional CX with Operational Transformation
Sutherland implemented a strategic and phased approach to address the bank’s challenges. The initial focus was on clearing the mortgage division backlog, which was accomplished within three weeks through intensive training and efficient execution. A hybrid team of onshore and offshore underwriters was assembled to enhance productivity and optimize costs. Leveraging a Champion-Challenger approach, Sutherland outperformed competing vendors, earning additional responsibilities in Processing, Closing, and Third-Party Services.
To manage the surge in customer inquiries during the pandemic, Sutherland rapidly established an inbound call management platform within 30 days. Offshore underwriting services further reduced turnaround times while maintaining exceptional quality and cost efficiency.
Sutherland’s strategic interventions delivered significant results. Backlogs in the mortgage division were cleared in just three weeks, restoring seamless service for customers. Rapid resource onboarding enabled 20% faster implementation across multiple operations. Overall, these initiatives resulted in 30% cost savings for the client, along with a substantial improvement in operational efficiency and customer satisfaction.
That’s Digital Performance Unlocked and Measurable Outcomes Delivered!
By outperforming competing vendors, Sutherland partnership was elevated to preferred partner status. Over the course of seven years, this partnership has extended beyond underwriting to include Processing, Closing, and Third-Party Services, exemplifying Sutherland’s ability to deliver resilient, scalable banking operations.
Faster Implementation
Backlog Clearance enabling superior customer experience
Unlock Future-Ready, Customer-Centric Banking with Sutherland’s Mortgage and Banking Solutions
Services
Underwriting
Industry
Mortgage Services
