The Bank was facing various challenges across several lines of business, some of which included huge processing backlogs resulting in delayed responses and high level of processing errors in the check processing function; quality issues in the loan closing function, across the mortgage origination line of business; high level of errors in processing checks across the lockbox function etc. The bank’s main need was to improve service levels across these specific areas besides managing costs and improving process efficiencies.

The bank had been looking for a service provider who could provide integrated IT & BPO solution. The Bank had already tested the outsourcing waters by contracting some portion of its IT work. Based on its success with its IT outsourcing relationship, the bank decided to evaluate outsourcing its back office processes.

The success of this initial engagement and the large impact it had on cost reduction as well as enhanced service levels, led to other lines of business also coming on board the outsourcing program. Initially SLK Global’s services were used only in processes that involved low skills like simple data entry, data indexing, exceptions processing etc. However, today SLK Global works on diverse processes that involve skills ranging from simple data entry to complex decision based functions across different lines of business. Apart from the main operations, SLK Global has also been engaged to handle support functions like Human Resources and Account reconciliation for the bank.

Key aspects of the approach included:
	Remote process transitions in most cases
	Onsite resources deputed for critical processes
	Free Strategic Value Assessment for most processes
	Shadow resourcing/ Cross training methodology followed to ensure quick turnaround time
	Multiple six sigma projects for continuous process improvements
	Performance dashboards
	System automation for process improvement