Case Study: East West Bank achieves 99% time savings with Cotality's Payoff Analysis

East West Bank cuts payoff analysis time by 99% with Cotality

East West Bank, a major commercial bank, faced a significant challenge in manually tracking mortgage payoffs, a process that consumed approximately 40 hours per month. This inefficient method resulted in incomplete data on competitor activity and lost customer intelligence. To overcome this, the bank turned to Cotality and implemented its Payoff Analysis tool on the Araya platform to automate the tracking process.

The solution from Cotality automated data aggregation and analysis, providing immediate insights into where departing customers went. This resulted in a 99% reduction in analysis time, saving an estimated 476 hours annually for the primary user and freeing up hundreds more for other employees. The implementation delivered crucial competitive intelligence, allowing East West Bank to understand market trends and confirm the effectiveness of its customer retention strategies.

East West Bank