By Lane Martin, Managing Principal and Priya Gupta, Senior Consultant While the benefits of implementing check image capture in branches are well-known, and the practice itself is a proven business case, how “tuned” is your bank’s strategy to maximize the impact of branch image capture and realize optimal benefits? In our experience, it appears that many banks have taken a “set it and forget it” approach to branch image capture. The initial implementation – several years old for most financial institutions – has seen results that made the business owners happy and returned the expected business case benefits. But what’s next? The assumptions used in creating those business cases relied on technology assumptions that have become out-dated. Examples include scanner speed, the ability to further reduce courier runs given advancement in other “paperless” technologies, and the advancement of modern day CRM systems funnelling rich customer information into a sales setting. We believe banks should do some “tuning” to modernize their approach to implementing image capture in a branch setting, and ensure that additional efficiencies and sales opportunities are realized in today’s economic setting. The beauty in refining the strategy is that most of the assets are already in place and [...]
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