A
mortgage lending client needed to significantly transform its Mortgage
operations, which represented the largest system, technology, and business
process change in the company’s history.
Mortgage Transformation goals were to implement a fast, efficient
process, a Product and Pricing Engine to empower professionals to anticipate
customer needs and facilitate decisioning at point of sale, and to leverage
processes and tools to enable customers to fulfill mortgage transactions on
their own schedule.
The Mortgage Transformation program involved improving
the company's process and technological capabilities, moving them closer to
their goal of being a Top 5 originator by 2015 and #1 in service quality (as
determined by JD Power and Associates). The
client required timely, consistent communications to its field staff, coupled
with thorough internal and external training, in order to build and maintain
internal and customer commitment to this large undertaking.
Solution:
CapTech provided the national mortgage lending
institution with a Business Readiness consulting team tasked with building and
implementing the Change Management strategy.
In order to achieve the appropriate results and effectively communicate
to an impacted audience of over 5,000 people, a Communication Plan was created
and executed. Specific activities in the
plan called for CapTech Consultants to create detailed communication kits to
educate and inform the end users, to analyze and report pilot assessment
results, to distribute corporate-wide communications throughout the program,
and to facilitate presentations for “All-Hands” and Leadership Meetings.
Tools:
Communication Plans
Communication Kits
Assessment Survey
Assessment Survey
Reporting Tools
Results:
CapTech’s Change Management
tools and best practices ensured a successful Communication Implementation;
this allowed the client to replace a National Consulting Firm, thereby reducing
the client’s monthly burn rate by $120,000.
CapTech was able to quickly identify weaknesses
with the previous Communication effort and guide the client through the
necessary tasks required for success.
Proper communication planning and execution ensured
appropriate audiences were prepared and informed of the upcoming Mortgage
Transformation effort.