Case Study: U.S. Bank cuts SCRA compliance review costs by 50% with Conduent

U.S. Bank cuts SCRA review costs by 50% with Conduent

U.S. Bank received a Matter Requiring Attention notice from a regulator concerning potential violations of the Servicemembers Civil Relief Act (SCRA). The bank faced the challenge of needing to review 1.5 million loan documents for compliance within a near-impossible timeframe and with significant cost constraints. They engaged vendor Conduent and its Analytics Hub platform to address this challenge.

Conduent implemented a solution using advanced analytics and a team of experts to rapidly cull and review the documents. This approach reduced the project's cost by 50% and accelerated its timeline by 18 months compared to the bank's internal plan. Conduent delivered only 1.7% of the initial document collection to the bank for final review, achieving massive efficiency gains.

U.S. Bank