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CompliancePénzügy18 december, 2020

Regional bank finds automated system boosts efficiency, improves accuracy, and reduces risk

A bank founded 115 years ago with a single location had grown to a footprint spread across five states. It services customers in 150 locations throughout the southeast United States. At the end of first quarter 2018, the bank had nearly $12 billion in deposits and by any measure, it was a regional banking success story.

However, an acquisition demonstrated to the bank and its management there was an opportunity to reduce loan risk and improve accuracy of liens. Staff often had difficulty dealing with the complexities and constantly changing requirements involved in filing across multiple jurisdictions. Long lead times were common. Many staff members simply became overwhelmed, leading to additional problems. The bank knew they needed assistance. 

They needed holistic lien management that started with a workflow analysis, followed up by automation, where the bank eliminated 77% of the manual steps, and finally they sought an integrated solution so they could seamlessly perform due diligence and management of their loans. 

Download the case study so you can learn how automation can help your business.



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