Founded in 1902, Extraco Banks is the largest and most comprehensive independent financial institution in central Texas with more than $1.5 billion in assets and 120,000 customers. The bank has adopted a lean culture focused on eliminating waste and improving processes. In recent years, Extraco 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.
One of the bank’s most manual processes was approving remote deposit capture (RDC) requests. Extraco’s call center team was responsible for reviewing RDC requests in addition to fielding customer calls and questions. The manual approval process for RDC requests took five to seven minutes for each request. With Nintex RPA, Extraco Banks has now automated the entire approval process, saving the bank an estimated 1,200 hours a year.
Complete automated solution built in just 12 hours
When RDC requests were reviewed, call center staff would evaluate the individual’s risk score, adjust velocity settings around the individual’s score, then approve or deny the request, and lastly notify the customer. The process required staff to move between the bank’s mobile application portal and FIS portal to review and approve requests, something its existing automation tool couldn’t accomplish. The RDC requests were also only processed twice a day, which meant customers had to wait hours, sometimes days, to know if they were approved for remote deposit capture.
Extraco Banks worked with the Nintex team to build a complete automated solution with Nintex RPA in just 12 hours. Now, a Nintex RPA Botflow™ checks the online portal for RDC requests every hour and processes any existing requests.
Shortly after the Nintex RPA solution for RDC requests was implemented, Extraco quickly had an unprecedented demand in RDC requests as branch locations closed due to the Coronavirus pandemic. Suddenly the bank was receiving over 40 RDC requests a day – more than four times its daily average of five to ten prior. Traffic into its call centers was also up threefold. Without the solution, Extraco would have had to pull call center staff off the phones to review RDC requests. Thanks to Nintex RPA, Extraco’s call center staff can focus solely on helping customers calling in.
