Top U.S. bank leverages Exela’s technology and expertise to reduce labor demands and improve payment processing efficiency.
Challenge
The bank was facing narrowing profit margins and a growing workforce dedicated to manual paper check processing. In order to combat rising costs and slow processing, they sought a partner that could introduce automation technology in order to streamline their remittance operations, while also helping them avoid a traditional BPO model, which would be culturally misaligned with their commitment to their existing workforce.
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More than 600 employees
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Growing costs
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Slow processing times
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Employee-centric culture
Solution
Exela provided a solution that retained and converted the existing onsite workforce and added the technology necessary to digitally transform their traditional onsite activities.
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Exela manages six bank locations across the U.S.
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Onsite technology upgrade, including state-of-the-art scanning equipment
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Integrated with Exela’s omni-channel payment processing platform
Benefits
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Introduced process efficiencies and cost savings
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More than 170 million transactions are captured, digitized, and processed annually
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Guaranteed employee benefits and human capital continuity
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