N bank is swamped with refinance requests this year because mortgage rates are at an all time low. To handle this excess traffic N has divided the process into 5 clear stages and created departments for each stage: 1. Loan agent 2. Loan processor 3. Closing agent 4. Loan-servicing specialist 5. Loan-payment specialist After this change, it was difficult to evaluate the performance of the system and N decided to solicit customer comments. The feedback from customers was full of complaints - the process took longer than usual, there were errors in the debited amounts from customer accounts, and some processes were being duplicated. To determine: Which steps can be eliminated, and which ones create value for the customer. Create a new blueprint of the improved process.

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Chapter 5, Problem 1.2CP

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Case summary:

N bank is swamped with refinance requests this year because mortgage rates are at an all time low. To handle this excess traffic N has divided the process into 5 clear stages and created departments for each stage:

1. Loan agent

2. Loan processor

3. Closing agent

4. Loan-servicing specialist

5. Loan-payment specialist

After this change, it was difficult to evaluate the performance of the system and N decided to solicit customer comments.

The feedback from customers was full of complaints - the process took longer than usual, there were errors in the debited amounts from customer accounts, and some processes were being duplicated.

To determine: Which steps can be eliminated, and which ones create value for the customer. Create a new blueprint of the improved process.

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