Lending a Hand to Improve Loan Services Operations

BB&T offers a wide range of financial services including retail banking, consumer and commercial lending, insurance, trust and wealth management products. Despite historically high levels of success that BB&T achieved due to the strength of their workforce, the company recognized areas of business that needed improvement. To help employees increase productivity, managers improve oversight, and IT employees address and solve systems issues, the Loan Services department needed a more updated enterprise content management solution.

Due to workflow inefficiencies, FDIC representatives would spend up to two weeks verifying compliance at each segment within BB&T Loan Services. This department also lacked a standardized quality assurance format or process, which jeopardized the objectivity of the results. Productivity reports were typically generated in a series of Excel spreadsheets, which were compiled through manual data entry of information sent by individual processors to management.

The volume of tasks associated with system and user maintenance was challenging for BB&T’s IT department. A rudimentary task list infrastructure was available to users to guide processors through basic activities when servicing loans. For simple changes or updates to the system, 25 separate roll outs were required to account for over 25 disconnected applications in Loan Services. In addition to these systems issues, IT was responsible for all user maintenance and access tasks, since management was not empowered to perform these updates. This created an unnecessary burden on the IT staff, limiting the time available to address other important issues.