Citibank Commercial Markets Group had acquired five banks with five different legacy loan processing systems in a short amount of time. Because of the separation and uniqueness of the systems and data, it was very difficult to fulfill Basel requirements, assess portfolio risk, historical trends, customer relationship dynamics, portfolio segmentation, exposure, capital investment requirements, loan loss reserve requirements, and to derive many other business intelligence. Performing analysis and combined reporting was very manual, time intensive, and challenging.
Curt Hannaman, Vice president of MIS, asked WorqSmart to work closely with him and his staff to design and build a custom software application, as well as the processes for gathering the data from the five loan systems. The software would be require to normalize the data and report the data to a variety of departments within Citigroup. He also asked for a method to gather value added information from various departments to supplement the loan system data. Essentially, he asked us to simplify, automate, streamline and reinvent his very manual business processes.
Curt recognized the value of building a database application to automate and streamline his operations. Once his data was organized, he acknowledged the power of harnessing the data to effectively report the true nature of his loan portfolio. He also understood the value of being able to know up to the minute statistical information about all aspects of his loan customers, customer segments, and the status of the entire loan portfolio.
Beginning in 1994, WorqSmart worked with Curt and his staff to systematically build and evolve multiple custom software applications and business processes. WorqSmart built Citibank’s very first applications using FileMaker Pro 2.0. Over the years the applications were upgraded, converted, migrated, and then rebuilt from scratch using FileMaker 8.5 in 2007.
Due to the efficiency of the software solution and the automation of formerly manual process, Citibank was able to reduce staff by 50%. In addition, even though the portfolio they managed doubled 10 times in 13 years, no additional staff was required. Their productivity, quality of output, and employee morale improved significantly. Curt’s staff is more empowered to help their internal customers with ad-hoc requests. Curt is much more informed and in control of his data and loan portfolio. He is able to accurately assess risk and predict the future better than ever before.
“We had data in five loan systems that we wanted to combine into one FileMaker Pro MIS reporting database system. WorqSmart quickly assessed our needs, recommended, and implemented a truly elegant, automated solution. We’ve been working together since 1994, and they continue to solve our most complicated database and information management challenges.”
Vice President MIS, Citibank Commercial Markets Group