mortgage lenders and servicers in the US
Your core system isn't where performance leaks
It's the operations running on top of it, where the real cost, risk, and customer experience gaps live. That's exactly where we operate and enable our customers to transform and win.
12 of Top 20
7 of Top 10
credit card issuers in the US
3 of Top 6
retail banks in the UK
NelsonHall
Leader — GenAI & Process Automation in Banking, NEAT 2025
HFS Research
Horizon 3 Market Leader — Best Service Providers for Mortgage Reinvention
Everest Group
Star Performer & Major Contender — Financial Crime and Compliance (FCC) Operations, PEAK Matrix®
Everest Group
Leader & Star Performer — Banking Operations Services, PEAK Matrix® Assessment
ISG
Leader — Generative AI Services, ISG Provider Lens®
WHY THIS MATTERS
Legacy banking operations are a compounding liability
Every quarter they stay unreformed, the cost of compliance goes up, the efficiency gap versus digital competitors widens, and the transformation window gets more expensive to open.
THE AI ROI GAP
4 out of 50 banks
saw RoI on investments
The gap between AI ambition and operational outcomes is the defining challenge in banking today.
Evident AI Index 2025
THE COMPLIANCE MULTIPLIER
5%
growth projected in compliance budgets
Global banking risk and compliance budgets are projected to grow annually through 2028, continuing to pressure operational costs.
McKinsey & Company, March 2025
THE EFFICIENCY UPSIDE
30%+
efficiency gain opportunity
Transformation unlocks efficiency gains, but needs operational rigor, delivery discipline, and track record to execute at scale.
McKinsey, Transformation Research
PROVEN OUTCOMES
The outcomes banks actually care about
$110M
five-year cost savings
We rebuilt mortgage default servicing for a top North American bank, consolidating 40-plus fragmented functions. We delivered savings and scaled loans by 2.5X.
~60%
TCO reduction over 3 years
We are transforming banking, savings operations, chat, and economic crime prevention for the world's largest building society. The transformation is delivered across 3 service lines, 16 queues, and 72 unique tools.
62%
QoQ fraud loss reduction
We profiled APP money transfers in real time for a leading global retail and commercial bank. Confirmed fraud cases fell 50%, with 100% consistent quality scores achieved.
40%
cost savings on operations
We right-shored select location-agnostic functions for a major UK bank, including account opening, card servicing, complaint indexing, and identity checks, driving 40% cost efficiencies while consistently delivering 99.9% TAT compliance.
CAPABILITIES DEEP DIVE
Capabilities that run across the core banking operation
From account servicing and working capital through economic crime and payments, applied consistently across the institution.
We support CASA account servicing, CD and ISA processing, statement operations, account maintenance, customer data management, and KYC refresh and periodic reviews across retail and business banking. KYC is embedded into day-to-day servicing rather than treated as a separate process, helping maintain compliance while improving operational efficiency.
- Account opening, amendments, and closures
- Customer data quality management
- Document management and archival
Invoice discounting, factoring, and single invoice finance operations are streamlined through automation across more than 60 sub-processes. Delivered through a BOT model, the solution combines a right-shore operating model with a TUPE transfer to achieve committed savings while eliminating operational risk for the client.
- Sales ledger reconciliation and debt verification
- Risk analysis and exception management
- Cash allocation with 99.8% accuracy
- Proprietary workflow tool for case management
Fraud operations span application vetting, fraud investigation and prevention, AML relationship screening, mule detection, refunds, and scam investigations. AI coaching for agent performance and GenAI-powered quality assurance are embedded to improve accuracy, consistency, and operational efficiency.
- Application vetting: CAT6 alerts, B&S alerts
- Fraud investigation and prevention: plastic and non-plastic, vishing
- AML relationship screening: sanctions, PEP/SIP/RCA
- Mule detection and account blocks
- APP scam investigation and SSI portal management
Omnichannel customer service, complaints management, bereavement support, and regulatory escalations are delivered for retail banking clients across telephone, chat, and email. AI coaching and a GenAI-assisted bereavement solution help agents provide consistent, compassionate service while meeting regulatory expectations.
- FCA Consumer Duty and CFPB compliance
- Chat support for savings, mortgages, credit cards, and personal loans
- Customer experience tracker
Payment operations span BACS, Faster Payments, CHAPS, ACH, wire transfers, and direct debits, with straight-through processing (STP) optimization, exception management, sanctions screening, and automated reconciliation delivered against measurable performance targets.
- STP rate improvement toward 97–98% best-in-class
- Payment investigations and exception repair
- AML and sanctions screening with false positive reduction
- Nostro reconciliation and ageing item management
- Payment analytics and regulatory reporting
BOT-model transformation engagements combine automation, site consolidation, RPA deployment, workflow tool implementation, and transfer management to deliver committed TCO savings.
- RPA platform deployed within the client's network
- More than 60 processes automated over an 18- to 24-month delivery
- Site consolidation from eight locations to three in an invoice finance engagement
- TUPE transfer management (UK)
Rapid discovery engagements combine target operating model redesign, process re-engineering, benchmarking, and operations consulting to deliver practical recommendations with committed outcomes, not just a presentation.
- Benchmarking against digital-native banking peers
- Process discovery and documentation through stakeholder interviews
- Technology and platform selection support
- Right-shore model design across the UK, India, and the Philippines
Client spotlight
We transformed legacy invoice operations, saving £20M
We consolidated legacy invoice operations from 8 to 3 sites, deploying AI-led transformation to deliver £20M in savings over 3 years.
Automating 60+ processes for a leading UK bank
The invoice finance unit of a major UK high-street bank was operating across multiple locations and legacy platforms, creating inefficiencies, operational complexity, and growing cost and compliance pressures. The bank needed to modernize the operation, improve customer experience, and reduce risk while executing a large-scale transformation alongside live business operations.
Firstsource delivered a comprehensive operating model transformation that streamlined delivery, improved efficiency, and created a more scalable foundation for growth. The program simplified operations, strengthened governance, and enhanced service performance while reducing costs and operational complexity.
Firstsource delivered a comprehensive operating model transformation that streamlined delivery, improved efficiency, and created a more scalable foundation for growth. The program simplified operations, strengthened governance, and enhanced service performance while reducing costs and operational complexity.
£20M
in committed savings
99.8%
payment accuracy
15-day
reduction in monthly risk
14 pts
improved NPS
WHO WE SERVE
Built for the full spectrum of banking
High-Street Banks
Transformation at the scale of a 20-plus-year relationship
End-to-end core banking operations are delivered across invoice finance, deposits, economic crime, customer service, and payments through a right-shore model with committed TCO savings.
Building Societies
Operations transformation for the UK's largest mutual institutions
For building societies, banking and savings operations, economic crime prevention, AML relationship screening, and customer support are delivered with the scale and expertise required by the UK's largest institutions.
Retail Banks
BOT delivery generates savings before core replacement
More than 60 processes are automated through RPA and workflow optimization, complemented by site consolidation and committed savings that accelerate core modernization.
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Credit Unions
Service and compliance at the right cost for the cooperative model
Deep banking expertise enables efficient account servicing, KYC refresh, economic crime prevention, and customer service while maintaining high compliance standards and a sustainable cost structure.
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PROOF OF DELIVERY
Every claim backed by delivery
14 point
NPS improvement from transformation
The invoice finance BOT engagement improved NPS by 14 points alongside the cost savings, accuracy improvements, and risk analysis cycle reduction.
35%
cost reduction through digital transformation
Rebuilt core and business banking, and cards operations for a US bank using conversational AI and digital deflection. $9M in incremental value unlocked, with 20% improved utilization and 35% headcount reduction.
$7.5M
annual savings for a leading US bank
We delivered technology-led solutions for a top-5 US bank across core banking servicing and collections operations. $7.5M in annual cost savings achieved with a 27% improvement in process efficiency across the engagement.
INSIGHTS
Latest from the Firstsource team
Insights from the field, real operations, real outcomes, and perspectives from the people making it work in live operations.
Contact Us
The legacy cost is real and it is compounding
Start with a four-week diagnostic from the team that has run these transformations.
- Diagnosed by operators who have run deposits, economic crime, working capital finance, and payments operations.
- Built around your platform environment, geography, and regulatory obligations.
- Savings committed upfront. Not projected at the end.