About the Client

The client is a financial services company in the USA, primarily into 1st party and 3rd party collections and student loan businesses. Their big customers were commercial banks, for which the company offered call center services, collection services and student loan facilities for students. Bulk of the business relied heavily on IT applications to execute most the 3rd party processes. IT Infrastructure, applications and telephony services were of prime importance. Cost structures of IT app maintenance were also high owing to the entire team being onsite in locations escalating the cost. Maintenance was expensive as the technology stack was old and clunky.​

The Challenge

Legacy systems, like old habits, die hard. Mostly because of the resistance to change. The key, in such cases, lies in implementing changes to eliminate pushback while injecting efficiencies, which is what CoreFlex solutions do best.

A case in point? A financial services company primarily in the loan collection business was being dragged down by limited employee training and inefficiencies in its transaction process and legacy systems. The company catered to renowned commercial banks for whom it offered call centers, collection services, and student loan facilities. This business relied heavily on IT applications to execute third-party processes. Unfortunately, this meant having the entire team on-site, which made the cost of IT app maintenance skyrocket. To make matters worse, the technology stack was old and clunky.​

The client wanted to eliminate manual interventions in their loan collection process, but outdated IT systems and legacy dependencies made it an uphill task.

Saddled with employees who lacked expertise, the client struggled to test system updates and add functionalities that could optimize costs and be scalable at the same time.

IT landscape modernization was imperative, but the client knew it had to be done without the risk of disrupting the existing business processes.

Our Solution

CoreFlex conducted a deep-dive assessment of the as-is state of the client’s operations, which included an evaluation of the usability of IT applications, technology capabilities, business orientation, and speed-to-market.

Key tenets of the solution were:

  • Recommendation of a “to-be state” landscape that had at its core IT support operations with an alternative sourcing model.
  • Provided an application reengineering and modernization plan, complete with an estimate of costs and timelines.
  • Created a QA strategy to help with easy system updates, adding new functionality to the application. This reduced heavy dependency on people who knew the tech and process.


Increased speed-to-market


reduced response time


Lower operational costs, thereby improving servicing time


Reduced Y-o-Y CAPEX by using new technology stacks

Compelling recommendations for the implementation of modern tech, sourcing models, IT service automation, AMS, and testing to ensure scalability and operational excellence for future business growth, with an estimated 60% reduction in operational cost.


Reduction in maintenance cost for existing KTLO in the first year, with the onsite-offshore methodology promising further reductions in IT operations.