Integrated Bank Technology (IBT), a company that specializes in engineering robust software applications and provides 24/7 support services to community financial institutions across the country, announced that Elgin State Bank in Elgin, Ill. has completed its deployment of IBT's Integrated Image Teller.
The bank selected image teller because it sought an innovative product that would improve the overall banking experience for its customers and staff.
The bank was familiar with IBT's product because of its prior experience with MICR Resource Management (MRM), a support services company that was acquired by IBT earlier this year. Prior to implementing image teller, the bank had already begun using electronic branch capture technology in preparation for presenting electronic cash letters, the most common technology used to take advantage of the Check 21 environment. The Elgin State Bank quickly recognized the value of imaging at the point of presentment, the teller counter.
"The use of the Integrated Image Teller eliminated many hours of manual labor for back office operations and also decreased the number of documents needed to complete transactions such as deposit tickets, general ledger tickets and withdrawal slips," said Gina Higgins, assistant vice president of Elgin State Bank. "In addition to the added efficiencies, the ease of use increased the product's selling points. As an example of how quickly we mastered the technology, two weeks later, I was asked to do a demo for another company and I said yes. It's that user friendly."
The Integrated Image Teller allows bank tellers to search for account numbers and make a virtual deposit ticket. The technology eliminates the need to sign a piece of paper and uses digital signature pads as an alternative. It also helps tellers become more efficient throughout the day and speeds up work at the teller line because it automatically ensures that every transaction is balanced before it can be completed.
"We are located in a competitive market, so the fact that the new system allows our bank to stay open until 7 p.m. rather than closing much earlier, like other banks in the area, is a critical factor," said Higgins. "It leverages our competitive position and creates an environment that will attract more retail and commercial customers."
"The ROI on imaging at the teller counter is dramatic and deployment of this technology will increase efficiencies," said Mike Golebiowski, president at IBT. "We are extremely pleased to work with Elgin State Bank to experience these benefits. As the usage of advanced technology increases, many companies fail to adapt to the latest trends, so it's encouraging to work with clients such as Elgin State Bank that are committed to using technology to provide the highest level of service possible."