In the face of unprecedented challenges posed by the pandemic, many lenders, including our client, a top 20 regional bank, felt the pressure of change. An impending surge in default volumes meant that our client’s need to accelerate digitalization was non-negotiable.
Bridgeforce’s trusted advisors stepped in to orchestrate a transformative journey that would give the bank the digital capabilities needed to manage future default. By the end of the engagement, the client had a realistic strategic plan that cut costs, shortened production time, and aligned with their digital vision.
Bridgeforce deployed five senior-level technology and collections executives who worked alongside a team of other senior experts in digital collections, product knowledge and project management.
The team managed three intensive workstreams that covered digital default, project documentation and vendor selection.
After the initial assessment surfaced gaps that conflicted with the client’s original expectations and timeline, the Bridgeforce team addressed the issue head-on to help the client restructure and reset expectations.
The reworked roadmap was more realistic and still included a set of digital launch capabilities by the original timeframe. Bridgeforce then created strategies for three different products for Day 1 and beyond.
Bridgeforce applied vast expertise in the digital customer journey experience in originations and collections to help the client develop targeted customer communications optimized for the COVID-19 and beyond.
The bank received a more realistic Phase 1 strategic plan, aligning with the bank’s vision of achieving full digital capabilities. The team refocused the client on digital activities that slashed costs and hastened time-to-value.
Bridgeforce’s work will result in substantial financial improvement and acceleration in digital default maturity.
The bank turned to Bridgeforce for this critical mission thanks to an ongoing partnership Our work has resulted in proven track record spanning over five years, highlighting tactical prowess, strategic vision, and the ability to meet a demanding deadline. For this project, the client entrusted Bridgeforce to:
The value of experience cannot be overlooked in major transformation projects. So, if you’re at the initial stages of digital implementation, consider bringing in Bridgeforce to help. With decades of service and lifetimes’ worth of experience on the frontlines, our trusted advisors will help you achieve success in any digital transformation project.
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