Case Study: a leading U.S. bank cuts SCRA review costs and accelerates compliance with Conduent

U.S. Bank: Look-Back Review for Servicemembers Civil Relief Act (SCRA) Compliance Accelerates Compliance and Cuts Costs

A leading U.S. bank received a regulatory notice that it may have violated the Servicemembers Civil Relief Act (SCRA) and faced the immense challenge of reviewing 1.5 million loans for compliance. The bank lacked the internal resources and technology to meet the regulator's stringent deadlines, as its own work plan estimated the process would take nearly two years. To address this, the bank engaged Conduent for its legal and compliance solutions and the use of its Analytics Hub platform.

Conduent implemented a rapid solution using its proprietary big data analytics platform to centralize and analyze the loan data, applying advanced search filters and algorithms. This process quickly culled over 120 million pages of documents down to a manageable set for expert review. The solution delivered by Conduent accelerated the project timeline by 18 months and reduced costs by 50%, allowing the bank to meet its regulatory requirements efficiently and prepare for future compliance.