Zeugos will focus primarily on Lending and Cards. The financial industry went through a turmoil in the last couple of years seeing the downfall or closure of giants like Lehman Brothers, Bear Stearns, Merrill Lynch, Countrywide, Washington Mutual and a whole series of banks. With tighter regulatory controls, it is becoming increasingly difficult for banks to start the lending process. At the same time, the government wants banks to find ways to help creditworthy small and medium-size businesses get the loans that they need to open their doors, grow their operations, and create new jobs. On the consumer side, banks are reworking mortgages that are underwater by creating appropriate loan modification programs. Never before, we saw such conflicting situations with banks in terms of finding creditworthiness. Zeugos will work with banks in bringing innovative products to market that creates a customized feel for both business and consumer market. Zeugos will work with the various stages of lending process such as Origination, Processing, Underwriting, Closing, Post Closing and Servicing in an integrated fashion. The intent is to find ways through which these processes can be made efficient enough to provide early warnings that help banks adapt to the change and manage risks accordingly. Based on our study, we found gaps with various business units interfacing with the consumers. We truly believe that customer facing business units working in isolation must be integrated as part of the value chain or it might pose a huge liability for the entire company.
CARD act of 2009 signed into law by the government requires credit card companies to accept accountability, responsibility and disclosures. The new law is aimed towards preventing unfair rate hikes and hidden fees. The law also demands plain language from credit card companies along with customized options where people can shop for a card without fear of being taken advantage of. The accountability section of the law calls for public posting of credit card contracts and maintaining regulatory compliance. Zeugos will like to see this law as an opportunity which provides avenues for consumers to reach out to credit card companies providing options that suit individual need. Zeugos will help create a true customer experience that exemplifies an association of care and belonging with the credit card companies.