SPML has achieved this through deploying Vignette IDM to electronically store and process records, increasing efficiency through an overhaul of its business processes.
SPML notes that customer service delivery has already improved by 40 per cent in key areas. By increasing its efficiencies the company is aiming for increased growth over the next 12 months.
Securitisation and loan sales are the key funding strategies for SPML, and the required supporting paper-based processes, which are necessary for audit, were creating substantial administrative overhead. SPML said Vignette solutions has made a significant impact in this area. Further, regulations in the United Kingdom state that lenders must retain a full record of a customer’s history from inquiry through closure. Retrieving the necessary files to comply with these regulations would have been an extremely time-consuming and costly process for SPML, since its paper-based files were all stored off-site.
“Vignette has definitely helped us to review and revolutionise our existing business processes, resulting in increased productivity and improved turnaround times,” said Melanie Leask, executive manager of mortgage servicing at SPML. “The efficiencies we have gained since working with Vignette mean that we have been able to process more volume without additional resources.”
Since SPML implemented Vignette’s document management solution, all its customer files are now held electronically and can be retrieved, managed and processed within seconds, leading to a 40 per cent improvement in customer service delivery on key processes in six months.
