From the smallest bank to the largest credit union, the financial services market knows there are opportunities to leverage enterprise content management (ECM) solutions.
With common issues such as integrating with core systems, compliance and unmanaged paper files, it's pretty clear why. Recently, Alliant Credit Union of Chicago, the seventh largest credit union in the United States with over $7 billion in assets, identified that problems like these were hurting member service - and that a comprehensive ECM strategy was the best solution. Because it's proven, scalable and flexible, the credit union has chosen Hyland Software's OnBase solution for an organization-wide ECM implementation.
"We chose OnBase because its enterprise content management capabilities are proven in financial services," said Rudy Pereira, senior vice president of operations and technology for Alliant Credit Union. "Automated workflow will provide us additional capabilities to further drive efficiency, reduce process errors and improve member fulfillment needs. Manual processes will be automated, every image will be made available through all channels and dependency on paper will be significantly reduced."
In addition to being enterprise-wide, Alliant needed true ECM capabilities to integrate with its core system, as well as other line of business applications. Their existing imaging solution didn't provide enough flexibility beyond basic storage and retrieval of documents, so by integrating OnBase, the credit union will be able to leverage functionality such as imaging and workflow across the enterprise, including in administrative functions.
But Alliant Credit Union's vision for OnBase doesn't stop there. Workflow will be used to automate wire transfers, from the request form to the evaluation of the request and member verification. The credit union also plans to extend OnBase to mobile devices so managers can approve purchase orders no matter where they are.