Large Interstate Bank Outsourcing
A Top-10 ranked bank was buried in paper and microfilm from the archiving of millions upon millions of checks, which must be kept for tax purposes for seven years.
The changeover from film to digital technology would be extremely costly, and the bank did not have a core competency in digital imaging management.
We assisted the bank’s key decision makers in analyzing the costs and risks associated with investing in the new technology and how the system would be managed. The analysis proved an outsourcing arrangement would be the best solution..
We then assisted the bank in assessing the different outsourcing partners and facilitated the negotiations to ensure a real win-win for both parties that assured the bank of the lowest cost, while keeping up with technology upgrades.
The difficult process of transferring of employees from the bank to the outsourcing was handled without disruption, and the archiving process was seamless and well integrated into the bank’s functioning. Costs to the bank were reduced substantially, while the new innovations increased speed of retrieval and customer satisfaction.