Case Study: a top-10 bank achieves 67% lower mortgage audit costs with Conduent automation and right shoring

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

This major U.S. financial institution faced significant efficiency and quality challenges in its mortgage services operations. Its new loan audit process required a team of over 50 operators to manually extract data from documents, creating risks of human error and high costs. To address this, the bank partnered with vendor Conduent to leverage its optical character recognition (OCR) technology and global sourcing expertise.

Conduent implemented a solution that automated 70% of the process and relocated 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 improved quality to over 99%. Due to this success, Conduent expanded its support to other areas, subsequently eliminating a 12,000-invoice backlog, saving over $300k, and increasing efficiency across dozens of mortgage servicing and complaint management processes.