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Retail Operations at a Regional Bank

The bank’s central mailroom managed the inflow of over 200 types of documents from 500 retail branches daily. The mailroom was integral to processing new account openings, consumer loans, and other products that were marketed in the branches. The bank needed a way to speed up the closing process while providing visibility to their staff, and customers were complaining of being asked to provide the same documents multiple times.

The bank deployed Encapture across all their bank branches so employees could instantly accept and digitize documents from any touchpoint—email, desktop scanner, or multi-function device (print/fax/scan). Encapture digitally routed the documents to the right back-office team and notified branch staff if any documents were incomplete or missing.

The bank saved over $3 million annually by eliminating the need to courier documents to the central mailroom. More importantly, the branch staff’s ability to immediately process documents and provide context to the back-office led to substantial improvements in turnaround times and customer service levels.

It’s hard to think of an easier way to eliminate millions of dollars of expense with so little disruption—one of the smoothest implementations I’ve managed.

—SVP, Central Operations

Department of Human Services

The state agency was struggling to provide quick turnaround to its 270,000 constituents and experienced significant errors when providing food benefits, child care subsidies, and other support services. As a result, the state consistently faced substantial financial penalties for delays beyond federal standards.

The agency selected Encapture as the single platform to efficiently ingest documents and create digital case records across its 750 employees in 60 offices.

Using Encapture, the agency was able to eliminate all paper records and reduce costs by 64% as error rates were cut in half, saving the state over $2 million annually. The agency improved their turnaround time from a few weeks to same-day for 90% of cases. The agency is now recognized as one of the most efficient agencies in the country, and transitioned from paying penalty fees to receiving federal bonus awards for their leadership in constituent service levels. Most importantly, Encapture created a huge lift in employee morale, as they can spend less time handling paperwork and more time meeting constituents needs.

Consumer Lending at an International Bank

The bank’s consumer lending group was experiencing low customer satisfaction and high attrition due to its inability to streamline the closing process across its 400 branches. Documents were requested multiple times and often misrouted as they passed from the retail branch to the back-office processing group. Furthermore, the bank wanted a way to virtually facilitate the loan process vs requiring clients to visit a branch.

The bank deployed Encapture across their 5,000 employees to better handle the 65 million documents they received every year. Encapture was also integrated with SAP, their loan origination software, so loan officers could directly upload documents in real-time from their current system. Additionally, Encapture was deployed across 20,000 email inboxes to instantly route documents to the right repository.

The lending group now experiences more complete, accurate fulfillment of documentation requests making for a faster loan review process. As a result, application abandonment rates dropped dramatically and customer satisfaction scores improved. Further, the bank realizes significant cost savings by minimizing use of back-office staff and reducing paper handling costs, like copies and shipping.

It became easier and more efficient for customers to engage with us—this is good business!

—Director, Enterprise Collaboration

Mortgage Lending at a Top 10 Bank

The bank needed a more cost-effective way to grow its $40 billion mortgage lending operation across 7,200 loan officers. Despite hiring substantial manpower to handle back-office processing of large mortgage files, there was a continual struggle to turn around documents in a timely manner, which resulted in delays in closing and lower borrower satisfaction rates.

The bank selected Encapture to deploy machine learning models that automatically sort through and identify hundreds of the most common documents in the mortgage process. Encapture allows loan officers and underwriters to quickly understand what’s missing from a loan package (skipped pages, incomplete signatures) so they can reach back out to borrowers to collect the remaining items.

Using Encapture, the bank can now handle 3x the volume without hiring additional staff and can process over 240k pages per hour while achieving their internal service level goals.

Department of Motor Vehicles

The state agency, which oversees vehicle title and registration records for 1.8 million drivers across 200 offices, needed an efficient way to manage their large, diverse sources of paper-based documentation. File storage and retrieval were costly issues with the agency’s essentially manual data capturing system, resulting in poor data quality, lost documents, and delays. The agency constantly received high call volumes from dissatisfied citizens inquiring about the status of their application.

The agency streamlined and modernized its process by deploying Encapture across its 200 offices and integrating with their existing ERP (3M’s MVA Solutions) to seamlessly manage all motor vehicle and driver data.

Using Encapture, copies no longer needed to be made, filed, or stored in the local DMV offices or centralized processing center. As a result, the agency achieved 100% data accuracy and improved processing cycle times from 4 weeks to 3 days.

By deploying Encapture to scan and accurately index documents at the DMV offices where they are originally received, we took a major step toward our goal of ensuring that all essential information used by our department is digitized from the first point of touch.

—Deputy Director, Information Services, Department of Motor Vehicles

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