The bank\u2019s 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.<\/p>\n
The bank deployed Encapture across all their bank branches so employees could instantly accept and digitize documents from any touchpoint\u2014email, 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.<\/p>\n
The bank saved over $3 million annually<\/strong><\/span> by eliminating the need to courier documents to the central mailroom. More importantly, the branch staff\u2019s ability to immediately process documents and provide context to the back-office led to substantial improvements in turnaround times and customer service levels.<\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.0.6″][et_pb_blurb _builder_version=”4.0.6″ header_font=”Raleway|500|||||||” header_font_size=”28px” header_line_height=”1.2em” body_text_color=”#ffffff” body_font_size=”22px” body_line_height=”1.8em” background_color=”#30357b” custom_padding=”35px|35px|35px|35px|true|true” border_radii=”on|7px|7px|7px|7px” border_style_all=”none”] It\u2019s hard to think of an easier way to eliminate millions of dollars of expense with so little disruption\u2014one of the smoothest implementations I\u2019ve managed.<\/p>\n \u2014SVP, Central Operations<\/strong><\/em><\/p>\n [\/et_pb_blurb][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.0.6″ background_color=”#e9f2f8″ custom_margin=”100px|||||” custom_padding=”145px||170px|||” top_divider_style=”wave2″ top_divider_color=”#ffffff” top_divider_height=”94px” bottom_divider_style=”wave2″ bottom_divider_color=”#ffffff” bottom_divider_height=”116px”][et_pb_row _builder_version=”4.0.6″ width_tablet=”100%” width_phone=”100%” width_last_edited=”on|tablet” module_alignment=”center” custom_margin=”|200px||auto||” custom_padding=”1px|||||”][et_pb_column type=”4_4″ _builder_version=”4.0.6″][et_pb_blurb title=”Department of Human Services” image=”https:\/\/www.carlpeterson.net\/encapture\/wp-content\/uploads\/2019\/12\/gov-building-3.png” content_max_width=”100%” content_max_width_tablet=”90%” content_max_width_phone=”80%” content_max_width_last_edited=”on|phone” _builder_version=”4.0.6″ header_font=”Raleway|600|||||||” header_text_align=”center” header_text_color=”#333333″ header_font_size=”26px” header_line_height=”2em” body_font=”Raleway||||||||” body_text_color=”#454545″ body_font_size=”18px” body_line_height=”1.8em” hover_enabled=”0″ header_font_size_tablet=”24px” header_font_size_phone=”26px” header_font_size_last_edited=”on|phone” body_font_size_tablet=”” body_font_size_phone=”17px” body_font_size_last_edited=”on|phone” custom_css_blurb_image=”border-bottom: 4px solid #f79d42; ||padding-bottom: 20px;||width: 70px !important;||”][\/et_pb_blurb][et_pb_text _builder_version=”4.0.6″ text_font=”Raleway|500|||||||” text_text_color=”#454545″ text_font_size=”18px” text_line_height=”1.8em” width=”80%” width_tablet=”80%” width_phone=”80%” width_last_edited=”on|tablet” module_alignment=”center”]<\/p>\n 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.<\/p>\n The agency selected Encapture as the single platform to efficiently ingest documents and create digital case records across its 750 employees in 60 offices.<\/p>\n Using Encapture, the agency was able to eliminate all paper records and reduce costs by 64% <\/strong><\/span>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.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.0.6″ custom_margin=”2px|||||” custom_padding=”122px||90px|||” top_divider_color=”#ffffff” top_divider_height=”94px” top_divider_flip=”vertical” bottom_divider_color=”#ffffff” bottom_divider_flip=”vertical”][et_pb_row column_structure=”2_3,1_3″ _builder_version=”4.0.6″][et_pb_column type=”2_3″ _builder_version=”4.0.6″][et_pb_blurb title=”Consumer Lending at an International Bank” image=”https:\/\/www.carlpeterson.net\/encapture\/wp-content\/uploads\/2019\/12\/international-bank-3.png” icon_placement=”left” content_max_width=”100%” _builder_version=”4.0.6″ header_font=”Raleway|600|||||||” header_text_align=”left” header_text_color=”#333333″ header_font_size=”26px” header_line_height=”2em” body_font=”Raleway||||||||” body_text_color=”#454545″ body_font_size=”18px” body_line_height=”1.8em” header_text_align_tablet=”left” header_text_align_phone=”left” header_text_align_last_edited=”on|desktop” header_font_size_tablet=”24px” header_font_size_phone=”26px” header_font_size_last_edited=”on|phone” body_font_size_tablet=”” body_font_size_phone=”17px” body_font_size_last_edited=”on|phone” custom_css_blurb_image=”width: 50px !important;||”][\/et_pb_blurb][et_pb_text _builder_version=”4.0.6″ text_font=”Raleway|500|||||||” text_text_color=”#454545″ text_font_size=”18px” text_line_height=”1.8em”]<\/p>\n The bank\u2019s 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.<\/p>\n 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.<\/p>\n 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<\/strong><\/span>. Further, the bank realizes significant cost savings by minimizing use of back-office staff and reducing paper handling costs, like copies and shipping.<\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.0.6″][et_pb_blurb _builder_version=”4.0.6″ header_font=”Raleway|500|||||||” header_font_size=”28px” header_line_height=”1.2em” body_text_color=”#ffffff” body_font_size=”22px” body_line_height=”1.8em” background_color=”#30357b” custom_padding=”35px|35px|35px|35px|true|true” border_radii=”on|7px|7px|7px|7px” border_style_all=”none”] It became easier and more efficient for customers to engage with us\u2014this is good business!<\/p>\n \u2014Director, Enterprise Collaboration<\/strong><\/em><\/p>\n [\/et_pb_blurb][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.0.6″ background_color=”#e9f2f8″ custom_margin=”1px|||||” custom_padding=”146px||170px|||” top_divider_style=”wave2″ top_divider_color=”#ffffff” top_divider_height=”94px” bottom_divider_style=”wave2″ bottom_divider_color=”#ffffff” bottom_divider_height=”116px” locked=”off”][et_pb_row _builder_version=”4.0.6″ width_tablet=”100%” width_phone=”100%” width_last_edited=”on|tablet” module_alignment=”center” custom_margin=”|200px||auto||” custom_padding=”1px|||||”][et_pb_column type=”4_4″ _builder_version=”4.0.6″][et_pb_blurb title=”Mortgage Lending at a Top 10 Bank” image=”https:\/\/www.carlpeterson.net\/encapture\/wp-content\/uploads\/2019\/12\/top-10-bank-2-3.png” content_max_width=”100%” content_max_width_tablet=”90%” content_max_width_phone=”80%” content_max_width_last_edited=”on|phone” _builder_version=”4.0.6″ header_font=”Raleway|600|||||||” header_text_align=”center” header_text_color=”#333333″ header_font_size=”26px” header_line_height=”2em” body_font=”Raleway||||||||” body_text_color=”#454545″ body_font_size=”18px” body_line_height=”1.8em” hover_enabled=”0″ header_font_size_tablet=”24px” header_font_size_phone=”26px” header_font_size_last_edited=”on|phone” body_font_size_tablet=”” body_font_size_phone=”17px” body_font_size_last_edited=”on|phone” custom_css_blurb_image=”border-bottom: 4px solid #f79d42; ||padding-bottom: 20px;||width: 70px !important;||”][\/et_pb_blurb][et_pb_text _builder_version=”4.0.6″ text_font=”Raleway|500|||||||” text_text_color=”#454545″ text_font_size=”18px” text_line_height=”1.8em” width=”80%” width_tablet=”80%” width_phone=”80%” width_last_edited=”on|tablet” module_alignment=”center”]<\/p>\n 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.<\/p>\n 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\u2019s missing from a loan package (skipped pages, incomplete signatures) so they can reach back out to borrowers to collect the remaining items.<\/p>\n![\"\"](\"https:\/\/www.carlpeterson.net\/encapture\/wp-content\/uploads\/2019\/12\/top-quote-3.png\")
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