Wustenrot Bausparkasse, the mortgage subsidiary of German banking group Wustenrot & Wurttembergische, is to deploy Captiva's FormWare application to capture data and images from paper and electronic mortgage applications, forms and documents.
Wustenrot will integrate the data solution with Captiva's document capture software,InputAccel, which the bank has been using since 2002.
San Diego-based Captiva says the system will capture and route data directly into the bank's mortgage processing system. The system offers optical character recognition (OCR) which is expected to accelerate the processing of handwritten and machine-printed documents and cut application turnaround times by roughly one third.
Mark Lewis, Captiva's vice president of European operations, adds: "The integrated strengths of InputAccel and FormWare should maximise the accuracy of Wustenrot's mortgage data, speed the capture process, increase productivity and significantly reduce the cost of manual capture operations."
The document and information capture system is expected to go into production next month.