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IMAGE IMPORT

A major midwestern bank is using ImageScan’s ImageImport module for RemitTrac© to increase revenues, reduce costs and improve customer satisfaction.

THE PRODUCT: ImageImport is a RemitTrac© module that helps banks increase revenues, reduce costs and improve customer satisfaction by offering full lockbox services at low-volume sites. ImageImport allows complete payment transactions to be scanned at a remote location using existing hardware and applications, and sent to a central RemitTrac lockbox for processing. This provides customers with complete data capture and indexing, full reporting capabilities and the ability to search, view and send transaction information in a single archive without the need to install RemitTrac© at each location.

THE CHALLENGE: This large midwestern bank was looking for an easy, cost-effective method to expand the lockbox services it offered its customers in remote locations. Because many of the locations processed only a limited number of transactions each month, incurring new and potentially sizeable costs replacing its legacy capture platforms and retraining staff was not an option. Many of the sites used their own hardware and software solutions, and as a result, the central lockbox received the images and data in a variety of formats. Apart from the way the data was processed, there were also differences in the way information was handled, the amount of data collected, and the completeness of each transaction. The transaction data coming in from the various software solutions was often incomplete, inaccurate and in a variety of formats. The fact that it was also stored in several databases and multiple archives made it almost impossible for customers to get a quick snapshot of their financial situation. The bank wanted to standardize it’s product offerings across sites for better information quality and product consistency.  Something needed to be done. Unfortunately, the volumes were too small for the bank to justify upgrading its legacy capture platforms at all the various sites. The bank looked at its options and discovered ImageImport for RemitTrac®.

THE SOLUTION
ImageImport
is a complete data capture solution that integrates seamlessly with virtually all legacy hardware and software without having to be installed at each location. This allows the bank or a customer to scan transactions at remote locations and electronically send it to the central lockbox site for processing. Now, no matter what site the transaction originated from, every transaction is handled the way the customer expects and despite the capability limitations of some of the old legacy systems across the network. Customers now have access to complete information for every transaction, and are assured consistent data quality at a very reasonable cost. ImageImport offers complete, accurate, and timely reporting, and the ability to import and process all payment transactions, regardless of how or where they are captured, into ImageScan’s RemitTrac© lockbox system. Improved accuracy, fast data and image retrieval, complete indexing, full reporting capabilities, and the ability to search, view and send transaction information into a single archive were all features clients had been requesting.

The bank’s product manager stated: “This solution from ImageScan has increased revenues, reduced costs, and greatly improved customer satisfaction. All customer data is now presented in a consistent manner across the network, regardless of where their transactions were initially processed.”

THE BENEFITS:

ImageScan’s Image Import for RemitTrac has substantial benefits for both the bank and its customers.

 CUSTOMERS: Benefits to the bank’s customers include:

  • Improved accuracy
  • Access to more information
  • Complete indexing
  • Full reporting capabilities
  • The ability to search, view and retrieve transaction data instantly
  • Consolidated image retrieval

THE BANK: Benefits to the bank include:

  • Increased efficiency by eliminating duplicate processing
  • Reduced costs by consolidating transactions from multiple sites
  • The ability to use legacy hardware and applications
  • The ability to quickly assimilate new bank acquisitions, without converting acquired sites
  • New revenue streams
  • Improved customer service

To see how ImageScan provided a solution to deal with these challenges See White Papers