How you design and execute your business processes can be one of the most important differentiators from your competition. Any financial institution that isn’t undertaking some kind of process improvement effort on at least several fronts on an ongoing basis is giving up significant opportunities to recapture costs, gain market share and increase shareholder value.
Enter Cornerstone Advisors. Cornerstone helps organizations develop a disciplined approach to process improvement that can identify not only short-term financial improvement opportunities but, more importantly, improvements that are in alignment with your organization’s overall strategy.
The Benefits to You
A well designed process improvement effort in your organization can result in long-term value for the organization by providing:
- Smoother work flows, fewer errors and re-work, and greater productivity
- More efficient delivery systems that that can accommodate growth and expansion
- Improved operating and production synergies through delivery standardization and centralization
- Knowledge transfer of proven change management methodologies facilitating a culture of continuous improvement
- More effective use of existing technology
- Improved management tools, reporting, service level agreements and Scorecard® metrics to measure productivity and service on an ongoing basis
We’ve Done This Before
- Southeastern regional bank ($11 Billion) – Technology Procurement Assessment Focused on Improving and Streamlining Procurement Processes
- Midwest credit union ($1 Billion) – Collections and Enterprise Risk Management Process Assessment
- California bank ($13 Billion) – Imaging and Workflow Best Practice Assessment
- Midwest savings bank ($550 Million) – Mortgage Origination and Servicing Best Practice and Process Improvement
- Illinois commercial bank ($1.8 Billion) – Commercial Lending Best Practice Assessment and Process Improvement
- Illinois commercial bank ($1.8 Billion) – Retail Best Practices and Process Assessment and Branch Platform Staffing Recommendations
- California regional bank ($525 million) – Deposit Operations Best Practices and Process Assessment
- Southeastern regional bank ($11 billion) – Process Assessment and recommendations of the bank’s management reporting and production environment along with consultation on financial systems
- Mid-West Regional Bank ($12.5 billion) – Organization-wide best practices and process assessment
- Texas Credit Union ($1 billion) – Process improvement initiative in conjunction with core system conversion
- Mid-West Regional Bank ($2.5 billion) – Comprehensive Accounting and Risk Management process and systems assessment
- Southwest Regional Bank ($3billion) - Accounting and Deposit Operations process assessment
- Northeast Commercial Bank ($650 million) – Retail process and branch staffing assessment
- Northeast Commercial Bank ($3 billion) – Comprehensive mortgage lending process assessment
- Washington State Commercial Bank ($400 million) – Commercial lending process improvement initiative
- California Commercial Bank ($2 billion) - Bank-wide branch and teller platform process assessment
- Washington Savings Bank ($1 billion) - Commercial Lending and loan operations process assessment
- Connecticut Savings Bank ($2.5 billion) - Retail and consumer lending process assessment
- Southeastern Commercial Bank ($621 million) – Bank-wide process improvement initiative
In addition, Cornerstone can provide training and tools to enable process improvements to continue with your internal resources.