Case Studies

"Adaptive" Loan Program Design

A large regional bank, who has been a long established Private Education Loan lender, engaged Cology in a consulting capacity to leverage industry, product and operations expertise in providing a complete new program design and re-launch.

Problem/Opportunity

Our client wanted to leverage best in class product attributes from time tested credit criteria, while incorporating unique attributes that reflect the bank’s desired benefits for their customer base. The product needed to satisfy multiple key stakeholders at the bank; representing Risk, Compliance, Marketing, Finance, and Sales as well as aligning with the known abilities of their external provider and any contemplated guarantor.

Solution

Cology’s experienced team began drafting the components to meet various stakeholder needs. Each component was integrated with the whole so that from a customer market facing perspective, the product would represent a best in class offering, capable of achieving sales goals and satisfying internal objectives. Cology’s team worked closely with the banks’ internal representatives throughout the project, providing updates upon attainment of key milestones. Additionally, the Cology team provided the client with an understanding of the operational “choke-points” when managing the program so executive Bank personnel and product owners were well equipped in providing appropriate oversight of the re-launched product with their vendor partner. The final program detail was delivered.

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Results

The bank proceeded to launch the program with minimal design changes. Today this bank represents a top 5 lender in the private loan market. The bank client has continued down the path of introducing innovative ideas in their product line, thanks, in large part, to their earlier successful collaboration with Cology.