Financial Institution Improves User Experiences and Operational
Scalability After Large Acquisition
A Case Study
Client Overview
At the forefront of the retirement planning industry, our client specializes in the custody of alternative assets in self-directed IRAs, Coverdell Education Accounts, health savings accounts, and qualified business retirement plans. They provide services to more than 130,000 individuals and businesses nationwide with $12 billion in assets.
The Challenge
Our client was facing major issues at two of their operations that they needed to fix.
The first was after a recent acquisition, the new business was forced to process customer requests in a manual, paper-based fashion — causing frustration for our client’s new arm who normally worked with advanced processing platforms.
The second issue they faced was the use of a homegrown trust system, which could not scale to ingest future acquisitions already in the works.
Our Innovative Solution
To help our client get on track, we implemented a single automated, paperless customer request and trust solution across the entire enterprise. We helped streamline processes resulting in FTE reduction to achieve better RTO.
To do this, we implemented, IBM FileNet, and document imaging and indexing technology, Kofax. Integrating these two technologies allowed the financial institution’s systems to scale and grow with them in future acquisitions.
In addition, we integrated into Salesforce and their homegrown customer portal for end-to-end processing.
With our solution, our client is happy having a centralized trust system that will grow with them as fast as they need it, while and reduced overhead costs!
Technology We Used:
- EKofax
- EIBM FileNet
Our Exceptional Results
Reduced Overhead Costs
Scalable Application
Increased Process Visibility
Centralized Trust Accounting System
We helped our client ensure a smooth acquisition.
Imagine how we can help you.
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