Case Study: a top-10 bank achieves 67% cost reduction and 99%+ quality with Conduent automation and right-shoring

Global Sourcing and Technology Innovations Drive High-Efficiency Mortgage Operations for a Top-10 Bank

A major global sourcing and technology company, a top-10 U.S. bank, faced inefficiencies in its mortgage operations. Its primary challenge was a manual process for new loan audits, which required over 50 U.S.-based data entry operators to extract millions of data points monthly, creating significant risks for human error, high costs, and slow turnaround times. The bank partnered with vendor Conduent to address these issues with its optical character recognition technology and processing services.

Conduent implemented a solution by automating 70% of the loan audit process and relocating operations to its facility in Vizag, India, for quality control and handling exceptions. This right-shoring strategy resulted in a 67% reduction in annual costs and increased quality to over 99%. Due to this success, Conduent expanded its support to dozens of other mortgage processes, including eliminating a 12,000-invoice backlog and saving over $300,000 by reducing duplicate invoices.