A top tier Canadian bank launched their competitive lending product in early 2012. Sections of the processes associated with the new product were offshored to an external vendor in India later in the year. The current quality control (QC) system consists of two stages of review: a portion of documents are reviewed in India, followed by a 100% QC review of all documents in Canada. Once the Canadian processing centre performs their quality review, the document package is then sent to the end customer’s solicitor for legal processing.
Based on a cursory assessment conducted by the client company, the details of the type of quality control checks and the method of data capture are potential areas for improvement. The quality checks between the two organizations were independently designed causing a lack of alignment between the Canadian and Indian centres. There is no evidence that 100% QC is required as this level of control may not be proportional to the level of risk. Also, the current process does not support a reporting system that provides meaningful data to clearly understand key areas for improvement.