The Knowledge Work Factory^® Strategy

A strategy to “industrialize” critical loan fulfillment activities—all using your existing technology.

• Close more loans
• Preserve margin
• Enhance member experience (MX)
• Increase operating leverage
• Reduce errors, rework

Five “Factory” Opportunities for Your Credit Union:

Your RPA-Enabled (& Standardized) Lending “Factory” Begins Here

The Knowledge Work Factory® Strategy Explained

You’ve generated a lead. Weeks of prospecting have paid off. Now, just get the application over to Loan Operations and they’ll take it from here. Easy. Onto the next one! Think again.

Member can’t decipher that 25-page application? Who to call? Forgot a financial statement? Oops! Need an appraisal? Better call that member again. Pricing off? You’ll have to rebuild the deal. The list goes on.

The reality is painful. Turning precious applications into profitable member relationships should be muscle memory for any bank. Yet errors, mis-communication and low visibility lead to lost revenue and unhappy members.  Maybe you’ve heard this before:

• Loan processing “assembly lines” are in fact clunky, quasi-automated business processes, requiring legions of humans to correct errors and bridge gaps between disparate systems.
• Core platforms are aging, inflexible, and disproportionately costly—with no price-increase relief in sight from their highly-concentrated owners.
• CRMs and non-core applications often take years to deploy—but only moments to disappoint on their promises of meaningful, valuable automation and insights.
• Looking for simple, intuitive visualization of information to empower revenue-boosting decision-making? Sorry, you’re on your own—with a mountain of unreconciled spreadsheets.

The fact that all of these problems are intertwined makes it harder to recognize the painfully simple, and single, overlooked cause: A decided lack of time-honored standardization, pervading every nook and cranny of knowledge, or office, work.

Taming this quiet chaos seems like an insurmountable challenge. It’s not. Every day, The Lab routinely helps banks and credit unions quickly and cost-effectively overcome these “insurmountable” challenges.

As the industry’s sole standardization specialist, we transform each operation in your enterprise into a high-performance Knowledge Work Factory, using an unmatched combination of: 

Book Your Personal Demo With The Lab Now!

It’s one thing to read about RPA, or robotic process automation, for banks.  It’s another thing, entirely, to see it in action, in a real, live demo. So get one! The Lab invites you to schedule your own, no-obligation 30-minute screen-share demo, in which we’ll show you all this power at work, and answer any questions you may have.

Simply call (201) 526-1200 or email info@thelabconsulting.com to book your demo today!