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Extraco Banks Enhances Customer Experience with Nintex RPA
Technology Category
- Analytics & Modeling - Process Analytics
- Analytics & Modeling - Robotic Process Automation (RPA)
Applicable Industries
- Equipment & Machinery
- Finance & Insurance
Use Cases
- Leasing Finance Automation
- Material Handling Automation
Services
- System Integration
The Challenge
Extraco Banks, a community bank with over $1.5 billion in assets and 120,000 customers across 15 branch locations, was facing a challenge with its remote deposit capture (RDC) approval process. The process was manually reviewed and approved by the bank’s call center staff twice a day, which was time-consuming and inefficient. The bank wanted to automate this process to free up its staff and expedite the process for its customers. One of the bank’s most manual processes was approving RDC requests. Extraco’s call center team of just 15 was responsible for reviewing RDC requests in addition to fielding customer calls and questions. The manual process meant customers had to wait hours, sometimes days, to know if they were approved for remote deposit capture. The slow drawn-out approvals resulted in calls into the bank’s call center, with remote deposit capture requests ranking as one of the most common complaints.
About The Customer
Extraco Banks was founded in 1902 as a cotton compress and warehousing business in Waco, Texas. Today, Extraco (an acronym for Exporters and Traders Compress) is the largest and most comprehensive independent financial institution in central Texas with more than $1.5 billion in assets and 120,000 customers across 15 branch locations. Extraco has adopted a lean culture focused on eliminating waste and process improvement. In 2016, the bank realized the need to implement new technologies to stay on the cutting edge and to compete with larger national banks – including investing in process automation tools.
The Solution
Extraco Banks decided to implement Nintex RPA to automate the remote deposit capture approval process. With Nintex RPA, remote deposit capture requests are now completed in three to five minutes and processed (if there are requests) every hour, each day. Customers no longer need to wait until Monday morning for an after-hours request on a Saturday to be processed. Extraco worked with the Nintex team to build the solution in just 12 hours. Now, a Nintex RPA Botflow checks the online portal for RDC requests every hour, and processes any existing requests. In addition to reviewing RDC requests, the bot also approves or turns off the customer’s ATM deposit feature if the customer score is high enough – an additional step call center staff would usually take.
Operational Impact
Quantitative Benefit
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