North Carolina State Employees Credit Union Utilizes Kofax Enterprise Capture Platform to Create Distributed Capture Solution for Mortgage Processing
Kofax Solution Enables State Credit Union to Process
700,000 Mortgage Documents
The Challenge
With nearly three-quarters of a million mortgages established and an
average of four documents perloan transaction, the SECU branches
had become increasingly overwhelmed by processing the huge volume
of paper documents and needed a way to transition away from hardcopy
files and filing stations.
The credit union’s multiple branches and operating locations meant that
documents had to be transported to and from branches, making it easy
for files to get lost in transit. The credit union wanted a mortgage
solution that would ensure all loan documents were electronically
captured and then stored in one central location. Documents would also
need to be easily accessible in real-time from any credit union location.
SECU wanted to expand its online and branch offerings to allow
members more freedom in obtaining their financial information, as well
as minimize the time it would take for a member service representative
to retrieve information while serving members. Whether in-person at a
branch location or through the call center, which receives millions of
calls per year, SECU wanted to improve and accelerate communications
through the use of a distributed capture application.
With three credit union operating centers in Raleigh and hundreds of
branches located throughout the state, the process to transition to a
new distributed capture system would take some time. SECU wanted
to locate a mortgage solutions provider and distributed capture platform
that could maximize efficiency and security, further satisfying members.
“We needed a way to get mortgage-related documentation digitized
efficiently so that our members could access their own file information
and our employees no longer needed to go searching for files,” said
Leanne Phelps, SECU Senior Vice President of Card and Record
Services. “At the same time, the solution needed to be flexible and able
to work in conjunction with our Check 21 and photo identification
programs already in place.”
The Solution
To identify and implement a solution, SECU turned to DTI
Integrated Business Solutions, a local Kofax Certified Solutions
Provider (CSP). Founded in 1984, DTI delivers integrated
Enterprise Content Management (ECM) and workflow solutions
that increase business efficiency, provide rapid access to missioncritical
business information and maintain document security.
The decision was made by DTI and SECU to implement a Kofax
distributed capture solution, which is included in Kofax
enterprise capture platform, the foundation for Kofax’s strategy
to help organizations streamline business processes. The
solution included:
- Kofax Capture, the world’s leading automated
information capture platform
“After reviewing the particular needs of the credit union for an
enterprise-level solution, we knew that Kofax Capture would be
a perfect fit. In fact, we didn’t consider any other products,”
said John Gorham, Senior Account Manager for DTI. “Kofax is
the only capture solution we provide on an enterprise basis
because it represents our company well and offers superior
flexibility during implementation.”
The Kofax solution automates business processes by capturing
paper and electronic documents and forms into a digital format,
transforms the content into accurate data and delivers the
resulting information to an organization’s business applications
and repositories.
With features that are vital to business-critical applications in
enterprise environments, Kofax Capture allows for customized
applications, such as specialized routing and processing, to
meet the specific needs of the credit union.
DTI assisted SECU in successfully planning and delivering the
mortgage solution in six months. Together, they created a test
environment for the distributed capture solution and then
installed it at each branch location. With the test environment
in place, any updates to programming could be developed and
then sent remotely to all branch locations.
Taking a special interest in managing the new solution
internally, SECU partnered with Kofax Professional Services to
create a custom instruction course for credit union employees.
This course provides a simple and easy method for trained
employees to receive the knowledge necessary to manage the
Kofax solution individually. Now, SECU employees are able to
provide their own support system for the distributed capture
solution, saving SECU time and money.
The Results
Since implementing the Kofax solution at all branch locations,
SECU has already seen significant improvements in productivity,
efficiency and member service across its mortgage program.
With the Kofax solution, a total of 700,000 loan documents
have been captured and made available to branch employees.
By digitizing the loan files, SECU has reduced the time it takes
for Financial Service Officers to access member information
and respond to inquiries. In addition, SECU now guarantees
100 percent quality assurance to members that their files will
be accurately processed and available.
“The more we develop this project, the more we realize that
the Kofax solution will allow us to migrate into other areas of
our business,” said Phelps. “The mortgage program is just the
tip of the iceberg. The next phase is to consolidate our paperbased
forms and capture them, along with new account
opening forms and all correspondence.”
SECU’s future plans include making loan documents available
to SECU members online.
Gorham added, “This distributed solution started with 250 work
stations and has doubled to 500, representing the success that
we have had with the project.”
