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1 Customer

  • Mid-sized Regional Bank

2 Business Situation

  • Demanding deadlines for lockbox processing compounded byvolatile volume
  • Diversity in client requirements, limited standardization
  • Very high infrastructure cost
  • Decentralized operations that reduced ability to standardize processes

3 Solutioning

  • Use of SmarTrans model to analyze Business Operations
  • Process improvements implemented:
    • Standardized single workflow across multiple centers
    • Review using images (vs. paper)
    • Use of OCR/ ICR recognition engine to reduce data entry effort

4 Execution

  • Leveraged 24x7 offshore delivery model for Item Entry, Remittance Entry, MICR Correction, Scan-line Correction & Data Entry
  • Eliminated manual work (60% of total effort) using OCR from Kofax and IBM check processing control system

5 Value Delivered

Quantum reduction in Operational Costs
  • Cost saving of $750,000+ per year from workflow changes
  • Cost reduction of $250,000 per year from outsourcing
Long term process improvements through business process and technology upgrades

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