BenchMark Consulting International Introduces Middle Market Lending BenchMark Program; New Program Addresses Key Operational Areas for Lenders.Business Editors ATLANTA--(BUSINESS WIRE)--April 28, 2003 BenchMark Consulting International, a leading international management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects firm to the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry, announced the addition of a Middle Market Lending BenchMark program. Fueled by the success of the company's Small Business Lending program, the Middle Market Lending program will provide participating organizations with key findings in every major area of lending operations and compare them against industry benchmarks. These results are measured across the entire credit cycle from origination Origination The process through which a mortgage lender creates a mortgage secured by some amount of the mortgagor's real property. Notes: Also known as loan origination, everyone must go through the origination process when securing a mortgage for a piece of real to special assets. John A. O'Connor, Commercial Lending Practice Manager of BenchMark Consulting International, said, "Over the years, our Small Business Lending BenchMark Program has become the yardstick for measuring and improving performance. In reviewing past Benchmark program successes, and from requests from many of our existing Middle Market clients, we concluded that Middle Market Lending was an area in the financial services industry that would benefit from a Benchmark program. From previous engagements with our clients, we have uncovered and implemented many opportunities to streamline the entire credit cycle within Middle Market Lending as well as provide these clients with comparison results against industry peers. "A number of our clients have found the BenchMark programs to be very instrumental in the improvement of their existing business model," added O'Connor. "These programs give participants empirical results, attributes and a series of workflow process models to evaluate and use in their improvement process. With the results from the Middle Market Lending BenchMark program, participants will be able to make decisions based on comprehensive views of the entire credit cycle and hard data about how they deliver products to market." The Middle Market BenchMark program focuses on analyzing the entire credit cycle for an organization. This program also will break out the results and comparisons along each participant's core processes including: product profile, product delivery, prospecting and relationship management, credit analysis, credit decision, doc prep and collateral evaluation, review booking and funding, loan servicing Loan servicing is the process by which a mortgage bank or subservicing firm collects the timely payment of interest and principal from borrowers. The level of service varies depending on the type loan and the terms negotiated between the firm and the investor seeking their services. operations, portfolio management, collections and special assets. This program provides a unique opportunity for financial institutions to be compared with their peers from both an efficiency and effectiveness standpoint. The program will reveal actionable Giving sufficient legal grounds for a lawsuit; giving rise to a Cause of Action. An act, event, or occurrence is said to be actionable when there are legal grounds for basing a lawsuit on it. results that define participants' performance gaps, size of the gaps and action steps to close of the gaps. Another facet facet /fac·et/ (fas´it) a small plane surface on a hard body, as on a bone. fac·et n. 1. A small smooth area on a bone or other firm structure. 2. of the program will review the relationship between the institution's process and credit quality. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. O'Connor, "shrinking outstandings is a real issue for some Middle Market groups. In order for these organizations to meet revenue and hurdle goals, they will have to improve through top line growth and organizational and operational streamlining. Middle Market Lending has been the last area of change in many organizations. This will definitely be changing for many organizations over the course of the next two years. The Commercial Lending Practice of BenchMark Consulting has assisted many organizations in the past with achieving these goals." There is still time for a limited number of lenders to participate in the program, but will be under way within the next few weeks. Final program results will be available in August. Please contact John O'Connor John O'Connor can refer to a number of people:
About BenchMark Consulting International BenchMark Consulting International has specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. in improving the financial services industry since 1988. The company is a management consulting firm that improves the profitability of its financial services customers through the delivery of management decision making information and change management services to realize the benefits of business process changes. BenchMark Consulting International's expertise is in the designing, managing and measuring of operational processes. As of 2002, the firm has worked with 19 of the top 20 (in asset size) commercial banks, all 11 automobile captive finance corporations, several of the largest consumer finance corporations and many regional banks throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Internationally, BenchMark Consulting International has worked with the five largest Canadian commercial banks The Canadian Commercial Bank was an Edmonton, Alberta-based Canadian bank bank that failed and ceased operations on September 3 1985. The bank was privately owned and operated as a wholesale commercial bank. , more than 20 European organizations in eight different countries, in addition to financial institutions in Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. and Asia. The company is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Fidelity National Financial, Inc., a provider of products, services and solutions to the real estate and financial services industries. BenchMark Consulting International has dual headquarters in Atlanta, Georgia and Munich, Germany. For more information about the company, visit the Web site at www.benchmarkinternational.com. |
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