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Case Studies - Finance
Case Studies - Finance
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- Global CI created a team of analysts and programmers who worked on this long term projects for a Financial Loan institution. For example:
As a result of the signing of the Higher Education Reconciliation Act (H.E.R.A.) of 2005, which made significant changes to the Higher Education Act (H.E.A.) of 1965, Our client's impact was seen in what is termed “Reauthorization of the Federal Family Education Loan (F.F.E.L.) Program. Some of the changes affect the way F.F.E.L. lenders report quarterly to the D.O.E., involving the student loan process in the areas of loan origination fees and interest rates.
Global C.I.’s employee impact was the involvement in writing program specifications and program modifications to reduce the mandatory 3 percent origination fee to 2 percent for Stafford loan borrowers, as well as maintaining the 3 percent fee for certain undergraduate student loan borrowers. The implementation of these changes went into effect July 1st, 2006 and is meant to target loans first disbursed on or after July 1st, 2006 but prior to July 1st, 2007.
Program changes were also made to accommodate increases in interest rates for both Stafford loans and certain undergraduate student loans. Our input covered the areas of program specifications, assignment of tasks, sharing in the program modifications and their testing, then finally in the quality assurance phase and eventual implementation into the production environment. Implementation was accomplished on time and successfully, as demonstrated by the reporting quarters 3 and 4 of year 2006.
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Enhancement of undergraduate student Loans
Our end client took the major undertaking to enhance the processing of its undergraduate loan processing by increasing its flexibility. The improvement manifested itself by allowing loan borrowers to sign a promissory note which would be in effect for 10 years. The greatest benefit of such an endeavor was in allowing the borrower to add loans to the same promissory note for 10 years after first signing, thus shortening the application process after the approval of the initial loan.
Global C.I. had a very significant presence in this project, with 15-23 members involved in every sphere of its life cycle, from requirements-gathering to analysis and design, through to programming, testing and implementation. Our impact in this project was unique in that experience gathered by our most senior employee in terms of Client tenure was able to function in a consulting capacity in its truest form, providing guidance to the Client's project leaders and employees, as well as Global C.I. employees. The final product was implemented successfully and in a timely manner.
- Global CI designed and built a distributed printing and information dissemination system for Alex Brown.
- Global CI staff supported various applications for Union Trust Bank, Bank of Virginia, Signet bank including, Demand Deposit, Retirement Accounts, Collections, Savings Accounts and Personal Banking.
- Global CI Staff provided Help desk systems support for Leggy Mason.
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