Defining Enterprise Commercial Lending Business Requirements

October 22, 2018 |

Only after there is a clear understanding of current processes and its improvement goals (aka, current state and future state) does a team begin the crucial step of defining business requirements for a technology project.

Over several months of on-site, day-long workshops with Fulton Financial stakeholders, we crafted use cases and gathered business requirements from all major functional areas of the commercial loan origination process. Requirements were drafted and refined through several working sessions until 5 comprehensive Business Requirements Documents (BRDs) were ready for final review and approval. These BRDs included

  1. Master BRD for overarching, cross-process requirements
  2. Lending Processes BRD for commercial loan origination, modification, and renewal requirements
  3. Portfolio Management BRD for requirements related to ongoing loan account monitoring
  4. Generate Documents BRD to cover standard loan document, letter, and form generation requirements
  5. Reporting and Data Analysis BRD to cover requirements related to transactional reporting and data analysis

Supplementary artifacts to the BRDs included

  • Data Matrix of data elements as identified by business users throughout the requirements gathering process; these data elements were intended to serve as data requirements for the chosen solution
  • Task Matrix of various auto-generated task reminders required by business users to complete necessary activities and satisfy compliance and policy mandates
  • Notification Matrix of auto-generated alerts needed by business users for task and loan origination lifecycle monitoring
  • Document Mapping templates for standard loan documents generated by the solution based on data elements within the solution

With this comprehensive set of documents, business leaders confidently moved into the vendor selection phase able to determine if a commercial offering aligned with their 1800+ business requirements. In addition, business and technical leads had a better understanding of the technology market’s “out-of-the-box” functionality and where customization or alternative processes might be needed to meet their business requirements.

With this crucial understanding of business need, project management chose a commercial lending solution and proceeded to the next phase of the project: Design and implementation.

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