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
