Lean Six Sigma Black Belt Project on Collections Improvement

Pranay Kumar Nov 6, 2022 3106 0

Lean Six Sigma Black Belt Project on Collections Improvement by Rajan Das

Business Case

XYZ Financial Ltd is top loan provider in America. its deals in home Loan, Personal Loan, Mortgage loan etc. Out of which 300 Agents are aligned in the recovery collection dept. Our purpose is to drive the business with a good strategy and good decision-making, report a greater ability to deliver revenue growth and drive successful innovation and ongoing transformation.

Problem Statement

Having looked at data for past 2 months we see that process is not able to meet client target $12000/pay positive recovery. In 2 months, team could achieve $7000 on average only one single day. Now, recovery has been added in SLA which can lead to a penalty of $25000/per on failure of Collection.