Consumer-driven outsourcing?

12 Mar

A press release from E-Loan says:

E-LOAN, Inc., a consumer direct lender, today announced that home equity customers designated to its Indian outsourcing program have the power to decide whether they want to participate before they complete their application. Home equity customers who choose to participate in the program enjoy the benefit of closing their loan two days faster than if the entire transaction was processed domestically …

The pilot program, which launched in early February, currently has the capacity to process 25 percent of E-LOAN's home equity applications. Testing shows that 86 percent of the customers designated for the program are choosing to take advantage of the faster processing time associated with it — the ability to close their home equity loan in ten days versus twelve days.

That means that about 22% of E-Loan's processing is being outsourced to India because customers are requesting it. Talk about a situation where you can hear your mom saying, "Don't encourage him!"

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