Software AG Case Studies BOK Financial Saves Millions of Dollars A Year with Paperless Check Processing

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	BOK Financial Saves Millions of Dollars A Year with Paperless Check Processing Software AG

BOK Financial Saves Millions of Dollars A Year with Paperless Check Processing

Software AG

Technology Category	Application Infrastructure & Middleware - API Integration & Management
Applicable Industries	Finance & Insurance
Applicable Functions	Business Operation
Use Cases	Process Control & Optimization
Services	System Integration
Challenge	The Check Clearing for the 21st Century Act became U.S. law in 2004 so banks could process more checks electronically. Before this act, banks had to physically transport paper checks from where they were deposited to the bank that paid them. Now, instead, banks can process checks faster and more efficiently using digital images. BOK Financial saw this as a business opportunity to gain efficiency. However, the process of integrating the digital check processing system was complex due to the numerous back-end operational systems involved in depositing, validating, and handling errors and closed accounts. Read More
About Customer	BOK Financial Corporation (BOKF) is a $23 billion regional financial services company based in Tulsa, Oklahoma, where it leads the state in consumer and commercial banking. BOKF has full-service banks in eight states. Assets are centered in seven bank subsidiaries: Bank of Oklahoma, Bank of Texas, Bank of Albuquerque, Bank of Arkansas, Bank of Arizona, Colorado State Bank and Trust and Bank of Kansas City. The company has a single IT organization that serves BOKF operations across eight states and has a history of producing innovative cost-saving solutions that deliver exceptional customer service. Read More
Solution	BOK Financial built an innovative Check 21 processing engine using Software AG’s webMethods Enterprise Service Bus (ESB) Platform. For the greatest possible efficiency, the Check 21 engine centralizes the processing of check images from locations across eight states. The engine also helps the bank launch new competitive services faster, such as accepting scanned check images from commercial customers. The webMethods ESB Platform made a potentially difficult integration easier. With the webMethods ESB Platform, remote branches securely send in a digital file of all the checks they’ve received that day. That evening, the Check 21 engine ingests hundreds of thousands of checks, which are then processed all the way through the system. Read More Log in to view content
Contents

Technology Category

Application Infrastructure & Middleware - API Integration & Management

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Use Cases

Process Control & Optimization

Services

System Integration

Challenge

The Check Clearing for the 21st Century Act became U.S. law in 2004 so banks could process more checks electronically. Before this act, banks had to physically transport paper checks from where they were deposited to the bank that paid them. Now, instead, banks can process checks faster and more efficiently using digital images. BOK Financial saw this as a business opportunity to gain efficiency. However, the process of integrating the digital check processing system was complex due to the numerous back-end operational systems involved in depositing, validating, and handling errors and closed accounts.

About Customer

BOK Financial Corporation (BOKF) is a $23 billion regional financial services company based in Tulsa, Oklahoma, where it leads the state in consumer and commercial banking. BOKF has full-service banks in eight states. Assets are centered in seven bank subsidiaries: Bank of Oklahoma, Bank of Texas, Bank of Albuquerque, Bank of Arkansas, Bank of Arizona, Colorado State Bank and Trust and Bank of Kansas City. The company has a single IT organization that serves BOKF operations across eight states and has a history of producing innovative cost-saving solutions that deliver exceptional customer service.

Solution

BOK Financial built an innovative Check 21 processing engine using Software AG’s webMethods Enterprise Service Bus (ESB) Platform. For the greatest possible efficiency, the Check 21 engine centralizes the processing of check images from locations across eight states. The engine also helps the bank launch new competitive services faster, such as accepting scanned check images from commercial customers. The webMethods ESB Platform made a potentially difficult integration easier. With the webMethods ESB Platform, remote branches securely send in a digital file of all the checks they’ve received that day. That evening, the Check 21 engine ingests hundreds of thousands of checks, which are then processed all the way through the system.

Impact #1	The Check 21 engine processes up to 4.5 million check images a month.
Impact #2	The bank can now offer a new product called Remote Corporate Capture, which allows commercial customers to scan checks at their offices without having to go into a bank.
Impact #3	Technical problems are resolved faster with webMethods. For example, when a defect was found in a core system, the problem was resolved in about 15 minutes.

Impact #1

The Check 21 engine processes up to 4.5 million check images a month.

Impact #2

The bank can now offer a new product called Remote Corporate Capture, which allows commercial customers to scan checks at their offices without having to go into a bank.

Impact #3

Technical problems are resolved faster with webMethods. For example, when a defect was found in a core system, the problem was resolved in about 15 minutes.

Benefit #1	Millions of dollars in savings per year due to reduced courier and development costs.
Benefit #2	Bank’s float improved by more than $20 million a day.
Benefit #3	Integration costs reduced up to four times.

Benefit #1

Millions of dollars in savings per year due to reduced courier and development costs.

Benefit #2

Bank’s float improved by more than $20 million a day.

Benefit #3

Integration costs reduced up to four times.

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Overview

BOK Financial Saves Millions of Dollars A Year with Paperless Check Processing

Operational Impact

Quantitative Benefit