How Persol BPO Services Reduced Time Costs for SBI Shinsei Bank's Mortgage Applications

Overview of the Collaboration between Persol Business Process Design and SBI Shinsei Bank

In an ever-evolving financial landscape, efficiency and speed are paramount. Persol Business Process Design, a Tokyo-based company known for its vision "Work and Smile," has recently partnered with SBI Shinsei Bank to introduce a Business Process Outsourcing (BPO) service tailored for mortgage operations. This innovative collaboration aims to streamline the pre-screening process for housing loans, effectively reducing the processing time by approximately two-thirds.

Background and Challenges

SBI Shinsei Bank, one of the key players in the retail banking sector, announced its plans to expand its mortgage services starting August 2023. As a result, the number of mortgage applications surged significantly, leading to an overwhelming increase in pre-screening workload. The bank faced challenges in managing this workload internally; thus, an effective solution was necessary.

Traditionally, the pre-screening process took up to five to six business days. With the rising application numbers, maintaining operational efficiency while managing human resources became critical. Rapid staffing increases would require extensive training and could distract current personnel from their primary responsibilities, potentially deteriorating overall operational efficiency. Moreover, fluctuations in workload could lead to a rise in personnel costs, further complicating the situation.

Service Implementation by Persol

Persol Business Process Design stepped in with over 20 years of expertise in BPO services, utilizing its knowledge of business process transformation to offer comprehensive support. The team's extensive experience, particularly in the highly specialized and variable financial sector, equipped them to assist SBI Shinsei Bank in addressing its operational challenges effectively.

The implementation of the Mortgage BPO Service not only streamlined the pre-screening process but also allowed for a comprehensive, end-to-end handling of mortgage operations, from application verification to the repayment procedure. This approach ensured significant efficiency gains and improvements in service quality, which have been beneficial across the financial industry.

Impact of the Mortgage BPO Service

Persol employed a unique training program specifically designed for financial BPO processes, enabling personnel equipped with industry knowledge to perform tasks more accurately and efficiently. The insightful allocation of staff based on their experience in financial operations allowed for flexibility in handling daily workload variations and spikes during busy periods.

Through meticulous analysis and identifying areas for improvement in these processes, the operational efficiency witnessed an upswing. The time required for pre-screening has now been reduced to around 1.9 business days, a remarkable achievement that directly addresses the challenges faced due to increased application numbers.

The collaboration has seen the pre-screening workload grow approximately fivefold since the expanded mortgage offerings, all while maintaining a streamlined operation and cost-efficiency.

Testimonial from SBI Shinsei Bank

Momo Goza, Deputy Manager of the Mortgage Division at SBI Shinsei Bank, shared her insight: "With the escalation in our mortgage business operations, we faced challenges in continuously increasing our staff. Implementing the BPO service from Persol was a strategic decision aimed at improving operational efficiency while controlling costs. Their capability to enhance our screening speeds has notably strengthened our overall reliability in business processes. Positive feedback has surged from our sales team, who appreciate the expedited turnaround in pre-screening. It allows us to focus more on expanding our partnerships. The partnership with Persol is invaluable, given their deep understanding of diverse business operations and commitment to finding optimal solutions for us."

Conclusion

Persol Business Process Design continues to make significant strides in refining operational efficiency within financial institutions. By aligning their expertise with the specific needs of clients like SBI Shinsei Bank, they are not only enhancing the business landscape but also contributing to a more effective and reliable banking experience for customers. As they embark on this journey to innovate and improve the work environment, Persol remains committed to their mission of creating a society where work and joy coexist harmoniously.

For further insights into Persol’s BPO services and case studies, please visit Persol BPO

About Persol Business Process Design

Founded to foster innovation and efficiency, Persol Business Process Design bridges human resource management with cutting-edge technology, aiming to transform workplaces and enhance the human experience in organizations.