Sector Focus

Consumer Finance

THE NEED

Those operating in the consumer finance arena – both mortgage bankers and finance companies - face enormous competition armed with state-of-the-art technology and marketing resources. Price competition with increased industry regulation has caused thinner profit margins that can only be offset by improving operational efficiencies. Shrinking top line opportunities in a highly commodified market requires organizations to differentiate with premium service.

Successful organizations in this marketplace realize that they need to refocus their efforts to strategically align their organizations, build more cost-effective operations and attract the highest quality credits through feature rich products and enhanced customer experience.

THE SOLUTION...REAL EXPERIENCE

LoBue helps consumer finance and mortgage companies identify their most rewarding opportunities and ultimately develop and implement sound solutions to capitalize on these opportunities. Expert consultants come from positions within consumer finance, mortgage banking and other financial institutions across the globe. Starting with a review of the client's vision and objectives, LoBue assists management in designing business functions and process that enhance customer experience, optimize profitability, productivity and product quality. Specific programs with consumer lending organizations include the following:

  • LoBue’s Customer Experience Optimization (CxO) Process comprised of analyzing current experience, defining and implementing the desired experience.
  • Design and implementation of front office solutions focused on enhancing revenue opportunities.
  • Designing and implementing organizational structures and management process to more effectively focuses on growth and product/service delivery.
  • Structuring customer-centered operating processes that improve service quality and customer experience while reducing costs.
  • Designing distribution networks that focus on existing “best practices” of the company to improve service delivery and consistency.
  • Implementing technology solutions that maximize overall business performance by integrating manual process and systems migration.
  • Creating and conducting training programs that assure the maintenance of long term program benefits.

LoBue consultants then team up with management to provide the training and insight required for a smooth transition of new responsibilities and functions within the organization.

REAL RESULTS

Since its founding in 1981, LoBue has provided numerous companies with on-time, on-target, reliable results in the consumer finance sector.

A leading finance company needed to develop new methods of operating in order to maintain its leadership position in a rapidly changing market. In the end, the entire business was redesigned, including a realignment of the organization to emphasize customer service. The results were dramatic – movement from a $4 million loss to a $23 million profit. LoBue consultants were asked to re-design a bank's mortgage operation to improve customer service and operating efficiencies. Sales and operating divisions were successfully integrated, resulting in a reduction of cycle times to funding of 35% and an increase in capacity of 25%.

LoBue created the organizational structure and associated processes for all consumer lending functions of a major bank. The results included the reduction of manpower by over 15% while at the same time while dramatically improving customer experience. Additionally, through the implementation of a new information/service management process, the bank positioned for dramatic growth and a national retail presence.

Working in conjunction with consumer finance and mortgage banking executives, LoBue consultants ensure corporate vision and objectives are carried out, achieving real solutions that create real results.

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