Client Result | FirstBank of Puerto Rico
Transforming FirstBank’s commercial lending process
Revolutionizing commercial lending through digital innovation
Platforms
EVP, Chief Credit Officer
FirstBank of Puerto Rico
Client Result | FirstBank of Puerto Rico
Revolutionizing commercial lending through digital innovation
Platforms
EVP, Chief Credit Officer
FirstBank of Puerto Rico
West Monroe used its deep knowledge from past banking transformations to guide FirstBank in modernizing its commercial lending system. Through 41 discovery sessions covering 579 functional and 28 technical requirements, we built a robust solution grounded in proven industry practices. Our unified platform streamlined nine loan lifecycle stages, removing duplicate data entry and enabling real-time insights. The solution positioned FirstBank to adapt effectively to market trends and meet customers where they are—ensuring efficient, consistent service across its regions.
West Monroe and FirstBank co-developed an innovative lending platform in nine months—half the typical project timeline. Hosting design workshops in San Juan, we fused practical workflows with industry insights, advising FirstBank on aligning with market demands. Collaborative user acceptance testing allowed FirstBank's teams to feel empowered and confident in the new system, which helped boost adoption. This trust-fueled relationship let us quickly adjust when needed, aligning the platform with the bank’s strategic goals. Our strong partnership became a foundation for agility and continuous innovation, enhancing FirstBank’s competitive positioning.
The transformation is expected to yield a 25-30% improvement in operational efficiency, enabling FirstBank to accelerate loan processing and effectively reallocate resources. Anticipated outcomes include a 15-20% boost in customer satisfaction, stemming from faster decisions and simplified processes, and an 18% rise in employee satisfaction due to more intuitive workflows and reduced manual tasks.
This project not only delivered immediate benefits but also laid a foundation for sustained growth and enhanced service. The collaborative approach fostered a trusted, long-term partnership, positioning FirstBank for future adaptability and success.
FirstBank partnered with West Monroe to transform its commercial lending processes across Puerto Rico, Florida, and the Eastern Caribbean. Confronted with outdated workflows and siloed systems, the bank sought to modernize its approach to enhance operational efficiency and customer experiences.
Leveraging our extensive experience with other banking clients, we advised FirstBank on industry-leading practices and how to adapt these insights to meet customer expectations. This knowledge shaped our approach—leading to the discovery, design, and implementation of an integrated nCino and Salesforce solution.
The result? A streamlined, end-to-end commercial lending platform that accelerates loan processing, improves transparency, and boosts employee engagement. Our relationship flourished through close collaboration—ensuring a seamless, impactful transformation. The nine-month project is expected to deliver significant improvements, including estimated 25-30% efficiency gains as well as anticipated boosts of 15-20% in customer satisfaction and 18% in employee satisfaction.
I have witnessed the West Monroe team’s professionalism, creativity, and problem-solving abilities first-hand. The team demonstrated a remarkable level of teamwork, communication, and flexibility throughout the project. I am proud to be part of this amazing team and look forward to continuing our partnership in the next phases of the project.
estimated efficiency gains across the front and middle office
expected improvement in customer satisfaction scores
expected improvement in employee satisfaction scores