AACER Streamlined Workflow Queues Proven Effective for Risk Reduction, Productivity Increases at Leading Financial Institution

An Epiq Challenge

The home mortgage division of one of the largest financial institutions in the U.S. is tasked – as a normal, ongoing part of its business – with tracking and reacting to important bankruptcy events throughout the lifecycle of a loan. The division was facing challenges tracking loans associated with bankruptcy cases, as well as managing the related processing efforts for its staff, resulting in:

  • Occasional but potentially costly missed events
  • Difficulty assigning individual internal accountability
  • Reduced productivity

Using PACER data alone with an internal team to work cases was proving to be a suboptimal process, so the company turned to Epiq’s AACER team to propose a solution.

An Epiq Solution

With approximately 800 bank employees across multiple U.S. offices using group work queues and heavily engrossed in existing processes, it was important to prove the effectiveness of a solution before rolling it out. So the AACER team worked with the client to pilot a streamlined workflow solution using AACER’s online platform, which is designed to result in higher productivity and cost savings for users in managing, among other things, loan portfolios.

During a full-day on-site kickoff workshop, two AACER product experts and a technical business analyst evaluated the problem and proposed a solution: Full implementation of AACER’s one-to-one queue feature. AACER work queues automatically route events to individual team members within the client’s home mortgage division, and allow for enhanced team supervision.

The team devised a pilot project to test effectiveness, working with 15 employees across two U.S. offices over the course of two weeks.

With Epiq Results

The one-to-one workflow queue pilot was a success, resulting in:

  • No missed events
  • Measurably streamlined work
  • Measurable and meaningful improvements in efficiency, including:
    • Reduced time required to filter and locate events
    • Reduced number of clicks required to navigate and locate events
    • Improved ability to track responsible parties for bankruptcy events, ensuring that the company’s hundreds of users are not working at cross-purposes.

Based on the initial success of this pilot project, the company plans to roll out AACER’s streamlined workflows feature division-wide in 2017.

By the numbers

12 Number of minutes saved per team member

22 Number of clicks saved to navigate and locate events

0 Number of critical events missed

AACER client stories