Source: Hyland Software
Hyland Software, developer of the OnBase enterprise content management (ECM) software suite, announced that First Federal of Bucks County, a community bank with $500 million in assets, has completed a successful implementation of OnBase OnLine, the Software as a Service (SaaS) offering of OnBase.
First Federal of Bucks County chose to implement OnBase throughout the institution's eight community branches in the greater Philadelphia area to streamline internal processes and standardize information access across the institution. These benefits allow First Federal to place even greater focus on its commitment to customer service through understanding customers' needs and assisting securing customers' financial futures.
Institutions must invest in flexible, cost-effective solutions that allow for minimum investment and rapid implementation. By using OnBase OnLine, First Federal of Bucks County was able to go live with the software in 90 days with minimal start-up costs and a low total cost of ownership.
"For a mid-sized community bank, such as ourselves, that does not have the ability to finance a full IT implementation and system overall, I think using a SaaS offering is a great low-cost alternative," said Darren Knox, vice president of information technology at First Federal of Bucks County. "This way, our institution receives all the great benefits of OnBase - document imaging, archival, data recovery, core system integration - without having to sacrifice our budget or customer service."
With the new OnBase OnLine SaaS solution, statements and reports from the Branch Operations, Teller Service, Lending and Finance departments are imported into OnBase using COLD/ERM. First Federal of Bucks County also uses OnBase to generate and store its internal reports. OnBase also assists First Federal of Bucks County in its compliance and disaster recovery efforts by storing mission-critical documents and records in a single, indexed repository, making it easier to locate and pull files in case of an audit or natural disaster. OnBase is hosted in a SAS 70-certified data center that is redundant and secure.
Currently 50 First Federal employees are using OnBase, with plans to replace the institution's microfiche archival system for deposit slips and eventually expand the system enterprise-wide to include accounting and lending.
OnBase is an ECM software suite with applications that include document imaging, workflow, electronic document management, COLD/ERM and records management. OnBase allows financial institutions to manage all digital content, including scanned paper documents, e-mails, faxes, print streams, application files, e-forms, Web content and multimedia files.
"While institutions of all sized can benefit from the document management and workflow capabilities of OnBase, not every institution has the budget or the resources to undergo a full-scale technology implementation," said Jason King, director of financial services for Hyland Software. "Through the flexibility of OnBase, our customers can still experience a significant and rapid return on investment due to the decreased cycle of implementation and low total cost of ownership that the SaaS offering provides. Additionally, if our customers want to transition to a premises-based solution, we can easily migrate their data and documents to an internal system for them to manage."