The document summarizes the goals and progress of SunTrust Mortgage's Mortgage Transformation project. It discusses improving processes to better serve customers, becoming a top 5 mortgage originator by 2015, and aligning business goals with the transformation. Associates helped design new standardized processes and technology changes to streamline the loan process and improve customer experience.
AI powered Decision Making in Banks - How Banks today are using Advanced analytics in credit Decisioning, enhancing customer life time value, lower operating costs and stronger customer acquisition
The banking industry is data-demanding with acknowledged ATM and credit processing data. As banks face increasing pressure to stay successful, understanding customer needs and preferences becomes a critical success factor. Along with Data mining and advanced analytics techniques, banks are furnished to manage market uncertainty, minimize fraud, and control exposure risk.
Microdecision Making in Financial Services - Greg Lamp @ PAPIs ConnectPAPIs.io
Fintech startups are taking business away from traditional institutions like banks, exchanges, and brokerages. One of the reasons that these startups are able to compete with $30B+ behemoths like Credit Suisse and Goldman Sachs is their advanced decision making capabilities. By leveraging new data sources and better predictive analytics, companies like Ferratum Bank can make more accurate decisions in a fraction of the time.
This talk will cover:
Types of decisions you can automate
Challenges in building predictive, financial apps
First-hand, real-world examples
Greg Lamp is the co-Founder and CTO of Yhat. In this role, Greg leads development of Yhat's core products and infrastructure and is the principal architect of the company's cloud and on-premise enterprise software applications. Greg was previously a product manager at OnDeck, a fintech startup in New York and before that an analyst at comScore. Greg is a graduate of the University of Virginia.
The advent of ‘big data’ has completely changed the way businesses can harness the information about customers to make powerful business decisions. Data could be of any type – campaign information, customer demographics, individual transaction behavior, interactions on social networks, web usage, or satisfaction surveys etc. BRIDGEi2i has the ability and experience to mine this wealth of unstructured and structured information to help businesses identify prospects, target them through the right channel, maximize cross sell and up-sell opportunities and thereby enhance the life time value of customer relationships. To know more visit: http://www.bridgei2i.com/customer-intelligence.html
Ten Commandments for Tackling Fraud: The Role of Big Data and Predictive Anal...CA Technologies
Accurate enterprise-wide data combined with data-driven fraud analytics can have a transformational effect on banking and related industries. This presentation provides tips and insights on using technologies like neural network predictive modeling, user behavior-based pattern recognition and statistical big data analytics to reduce the risk of fraudulent activities in the enterprise.
For more information on CA Security solutions, please visit: http://bit.ly/10WHYDm
AI powered Decision Making in Banks - How Banks today are using Advanced analytics in credit Decisioning, enhancing customer life time value, lower operating costs and stronger customer acquisition
The banking industry is data-demanding with acknowledged ATM and credit processing data. As banks face increasing pressure to stay successful, understanding customer needs and preferences becomes a critical success factor. Along with Data mining and advanced analytics techniques, banks are furnished to manage market uncertainty, minimize fraud, and control exposure risk.
Microdecision Making in Financial Services - Greg Lamp @ PAPIs ConnectPAPIs.io
Fintech startups are taking business away from traditional institutions like banks, exchanges, and brokerages. One of the reasons that these startups are able to compete with $30B+ behemoths like Credit Suisse and Goldman Sachs is their advanced decision making capabilities. By leveraging new data sources and better predictive analytics, companies like Ferratum Bank can make more accurate decisions in a fraction of the time.
This talk will cover:
Types of decisions you can automate
Challenges in building predictive, financial apps
First-hand, real-world examples
Greg Lamp is the co-Founder and CTO of Yhat. In this role, Greg leads development of Yhat's core products and infrastructure and is the principal architect of the company's cloud and on-premise enterprise software applications. Greg was previously a product manager at OnDeck, a fintech startup in New York and before that an analyst at comScore. Greg is a graduate of the University of Virginia.
The advent of ‘big data’ has completely changed the way businesses can harness the information about customers to make powerful business decisions. Data could be of any type – campaign information, customer demographics, individual transaction behavior, interactions on social networks, web usage, or satisfaction surveys etc. BRIDGEi2i has the ability and experience to mine this wealth of unstructured and structured information to help businesses identify prospects, target them through the right channel, maximize cross sell and up-sell opportunities and thereby enhance the life time value of customer relationships. To know more visit: http://www.bridgei2i.com/customer-intelligence.html
Ten Commandments for Tackling Fraud: The Role of Big Data and Predictive Anal...CA Technologies
Accurate enterprise-wide data combined with data-driven fraud analytics can have a transformational effect on banking and related industries. This presentation provides tips and insights on using technologies like neural network predictive modeling, user behavior-based pattern recognition and statistical big data analytics to reduce the risk of fraudulent activities in the enterprise.
For more information on CA Security solutions, please visit: http://bit.ly/10WHYDm
4 best practices in digitizing mortgage verificationExperian
The journey to a mortgage is complex and expensive, so of course the transaction will require more than a few swipes on a smartphone. Underwriting a sizeable loan can take weeks with the task of collecting income and asset documents to analyze and verify. In fact, one source from the Mortgage Bankers Association says the average mortgage application has ballooned to 500 pages. With advancements in digital verification, lenders can dramatically accelerate the process, providing benefits to both their own operations and the consumer mortgage experience.
Looks at the different AI approaches and provides some practical categorisation and case studies. Then talks about the data fabric you need to put in place to improve model accuracy and deployment. Covers: supervised, unsupervised, machine learning, deep learning, RPA, etc. Finishes with how to create successful AI projects.
Today, 80 percent of U.S. bankers would like to modernize their core deposit systems and they see a wide range of benefits in innovation, functionality and the overall financial return. Conversely, only 15 percent of bankers believe a new core deposit system will be installed in the next three years. This exclusive research from NTT DATA Consulting, unveils what factors are supporting and hindering core deposit system replacement today. For more information or to receive the white paper visit: http://americas.nttdata.com/Services/Services/Consulting/research.aspx
Proactively improve reporting access with data accuracy tools and best practicesExperian
Data furnishers are facing an ever-changing regulatory environment when it comes to reporting consumer credit data to the credit bureaus. In fact, according to a recent Experian study, 79% of financial institutions agree that increasing regulation has driven the need for better data analytics and management. In this presentation, understand how data furnishers are maximizing their potential through accuracy in data reporting, and how you can too.
Analytics is a two-sided coin. While on one side, it uses
descriptive and predictive models to gain valuable knowledge from data, i.e. data analysis, on the other side, it provides insight to recommend action or guide decision making, i.e. communication
In this presentation Mark T. Warren (Director of Decision Science) talks about Big Data with Barclaycard, the foundations they built for it and their goals in the long term for it. Warren also discusses Barclaycard's learnings from building the foundation and how they're using these learnings and coping with market change and other challenges that can affect their long term goals.
Collaborating in Context - NexJ SystemsSymphony.com
Learn how leading global financial services firms integrate Symphony's communications platform with enterprise customer relationship management (CRM) tools to keep collaboration centered around customers, accounts, and deals.
Our business partner and insurance operations expert, Rob Berg, will show you how he helped a major insurance company reducing costs and cycle time using Trisotech Digital Enterprise Suite through process simulation.
In this webinar, analysts, architects and other subject matter experts will learn how to:
- Generate defensible data to make clear and objective decisions
- Accurately model the way things are and the way you would like them to be
- Apply real-life data to process models
- Bring a static model to life by simulating the impact of process changes
Net Solutions Engagement Models BrochureNet Solutions
Net Solutions a CMMI level 3, award winning outsourced product development company. We offer three broad outsourcing models - dedicated offshore resources, fixed price and a pay as you go model.
An objective and comprehensive approach to evaluating the variety of strategic options available to lenders with a decision making construct for action.
4 best practices in digitizing mortgage verificationExperian
The journey to a mortgage is complex and expensive, so of course the transaction will require more than a few swipes on a smartphone. Underwriting a sizeable loan can take weeks with the task of collecting income and asset documents to analyze and verify. In fact, one source from the Mortgage Bankers Association says the average mortgage application has ballooned to 500 pages. With advancements in digital verification, lenders can dramatically accelerate the process, providing benefits to both their own operations and the consumer mortgage experience.
Looks at the different AI approaches and provides some practical categorisation and case studies. Then talks about the data fabric you need to put in place to improve model accuracy and deployment. Covers: supervised, unsupervised, machine learning, deep learning, RPA, etc. Finishes with how to create successful AI projects.
Today, 80 percent of U.S. bankers would like to modernize their core deposit systems and they see a wide range of benefits in innovation, functionality and the overall financial return. Conversely, only 15 percent of bankers believe a new core deposit system will be installed in the next three years. This exclusive research from NTT DATA Consulting, unveils what factors are supporting and hindering core deposit system replacement today. For more information or to receive the white paper visit: http://americas.nttdata.com/Services/Services/Consulting/research.aspx
Proactively improve reporting access with data accuracy tools and best practicesExperian
Data furnishers are facing an ever-changing regulatory environment when it comes to reporting consumer credit data to the credit bureaus. In fact, according to a recent Experian study, 79% of financial institutions agree that increasing regulation has driven the need for better data analytics and management. In this presentation, understand how data furnishers are maximizing their potential through accuracy in data reporting, and how you can too.
Analytics is a two-sided coin. While on one side, it uses
descriptive and predictive models to gain valuable knowledge from data, i.e. data analysis, on the other side, it provides insight to recommend action or guide decision making, i.e. communication
In this presentation Mark T. Warren (Director of Decision Science) talks about Big Data with Barclaycard, the foundations they built for it and their goals in the long term for it. Warren also discusses Barclaycard's learnings from building the foundation and how they're using these learnings and coping with market change and other challenges that can affect their long term goals.
Collaborating in Context - NexJ SystemsSymphony.com
Learn how leading global financial services firms integrate Symphony's communications platform with enterprise customer relationship management (CRM) tools to keep collaboration centered around customers, accounts, and deals.
Our business partner and insurance operations expert, Rob Berg, will show you how he helped a major insurance company reducing costs and cycle time using Trisotech Digital Enterprise Suite through process simulation.
In this webinar, analysts, architects and other subject matter experts will learn how to:
- Generate defensible data to make clear and objective decisions
- Accurately model the way things are and the way you would like them to be
- Apply real-life data to process models
- Bring a static model to life by simulating the impact of process changes
Net Solutions Engagement Models BrochureNet Solutions
Net Solutions a CMMI level 3, award winning outsourced product development company. We offer three broad outsourcing models - dedicated offshore resources, fixed price and a pay as you go model.
An objective and comprehensive approach to evaluating the variety of strategic options available to lenders with a decision making construct for action.
Impact of changing technology on strategic procurementMarcep Inc.
A must attend training as the world changes, so must you. Move beyond the conventional, unlocking your procurement power and become more strategic. Evolution is critical to procurement’s survival.
LoCC Measurable Improvement in Your Development ProcessJoseph Horwedel
Presentation to the League of California Cities Planning Commissioners Institute on Measurable Improvement in Your Development Process in 2009 at Anaheim, CA. The presentation looked at common methods to assess your process, review measurement tools and look at pitfalls based on the experiences in San Jose from outside consultant reviews and on going process improvement efforts.
Why Do Banks Spends Millions for Credit Management System?Banu HImawan
While Financial Technology well known as Fintech is altering the way Banks and NBFIs run their businesses, more are still curbed by hesitation of the investment cost will not pay-off.
Website, software, cloud and mobile application design & development comp...Fraction Tech PVT LTD
Fraction Tech is an India based fast growing offshore website, software, mobile, cloud-based application design, and development company in India.
We believe to deliver best services at the affordable price as per global information technology market standards up-to clients’ satisfaction.
Fraction Tech provides affordable and unique UI/UX web, software, cloud and mobile solutions provider in India. Making wonderful pixels for web, software, cloud and mobile services across the globe.
Fraction Tech is an India based fast growing offshore website, software, mobile, cloud-based application design, and development company in India.
We believe to deliver best services at the affordable price as per global information technology market standards up-to clients’ satisfaction.
Fraction Tech provides affordable and unique UI/UX web, software, cloud and mobile solutions provider in India. Making wonderful pixels for web, software, cloud and mobile services across the globe.
This presentation covers the entire aspects of 6 sigma quality methodology. You can have this presentation as a reference to anything related to 6 sigma. This is one of the best material to be refereed before the implementation of 6 sigma in your organization, whether it is in service sector or in manufacturing..
6. The Mortgage Transformation Process The Detailed Design Phase was focused on collecting requirements, building the design of the final product, and collecting feedback from end users and Subject Matter Experts. Phase II Objective The Strategy Definition Phase was focused on planning, with the end result being a prescriptive work plan that includes key initiatives, timelines, and priorities for guiding the company through the project. Phase I Objective Phase I Definition Phase II Detailed Design Phase III Delivery The Delivery Phase is focused on bringing the designs for improved process, product and organizational models built in the Design Phase to the field. Phase III is about realizing the benefits and making the Mortgage Transformation a reality. Phase III Objective
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9. Benefits Of The Business Process Changes for Retail Improve Customer Service Supports Growth Plan Increased Capacity More Flexible Response to Market Conditions STM Control of Loan Application Process Increased Business Opportunity Decreased Costs per Loan Better Product Rollout Improved Employee Training Improved On-boarding More Volume with the Same Staff Business Impacts Business Process Benefits Reduced Cycle Time The new process will shorten cycle time in the Retail “Application to Ship” process Reduced Touch Time The new process will deliver significant effort time reductions in the Retail “Application to Ship” process: Reduced Queue Time The amount of cycle time driven by outside parties (external partners and borrowers) will be greatly reduced: Process Standardization STM will be using the same overall process in all locations and channels although some parts of the new process will not apply to each channel. This will drive a consistent customer experience across all locations and improve overall efficiency.
10. Benefits of Technology Changes – Retail Decreased Cost per Loan Improved LO Recruiting and Retention Shorter Learning Curve and Faster Gains in Productivity for LO and staff Improved Customer Service Increased cross-sell opportunities Ease of System Upgrades Better Product Rollout Shorter Lock Periods Increased Business Opportunity Increased Capacity More Flexible Response to Market Conditions Business Impacts Technology Benefits Application New Point of Sale (POS) capabilities available across all channels (Retail, Call Center, Web, Broker, Correspondent) Application validation will reduce exceptions Automation for registration, lock, relock, extensions, submission / withdrawal, and status Automated ordering of vendor services for credit, AVM, and Flood Automatic generation of disclosures of products (product, state, and regulatory) Product Selection Creation of a central STM product / pricing repository All products, pricing and eligibility rules available online, in real-time Risk adjusted, best execution pricing Flexibility to pricing on any loan feature and unlimited hierarchies Closing Online HUD interactive with settlement agent Intelligent documents Interface to Digital Docs AUS New STM custom Decisioning capability (EZ Option) Integrated DU / LP workflow
11. Benefits of Enhanced STM Partners - Brokers and Correspondents Increased productivity due to easier navigation of the site Ability to serve customers 24/7 Increased knowledge of SunTrust products Ability to lock favorite products in minutes through the “Quick Lock” feature Ability to obtain underwriting decisions online and pull credit reports within minutes Streamlined loan origination cycle allows management of your pipeline 24/7 Tracking of all loans throughout the process Reduction in unmarketable loan losses through data integrity Benefits Technology Changes to STM Partners Updated Look and Feel Improved screen design Product Selection SunTrust Mortgage’s complete product set available Product recommendations based on loan data Pricing Scenario Run pricing and product scenarios for those tough to qualify or product/rate shopper borrowers Locks Submit and lock 24/7, 7 days a week AUS Run LP, DU or STM’s own AUS for specific products PIPELINE Tracks all loans locked/registered with STM STATUS Track loan status from “Reg.” to “Loan Funded”
12. Change Adoption Curve A change and communication strategy is a conscientious method of enabling people to positively move through the emotional cycle of change. Source: Daryl Conner - Managing at the Speed of Change Internalization Individuals make STM their own and create innovative ways to use and improve T I M E Status Quo Vision COMMITMENT / ENTHUSIASM High Contact Individuals have heard the Transformation Program exists Low Awareness Individuals are aware of basic scope and concepts of the Transformation Program Positive Perception Individuals understand Transformation Program impacts and benefits to them Institutionalization The new Transformation Program initiatives are the way work is done at STM -- the new status quo *While the speed with which an individual moves up the Commitment Curve may vary, the stages themselves are inevitable Understanding Individuals understand the Transformation Program impacts to STM and their functional area Adoption Individuals are willing to work with and implement Transformation Program initiatives
18. Household Lending Focuses on Reducing Losses and Increasing Revenue Reduce broken loans and improve consistency Make the process easy for both clients and teammates Improved Analytics to create visibility of process; leverage information real time Reduce cost per loan Projects will be prioritized so that foundational elements are addressed prior to more advanced functions. Make the Process Reliable Make the Process Fast, Easy, & Simple Make the Process Rich Make the Process Efficient