Archer Case Studies Eastern Bank Uses Archer® to Drive Business Processes and Streamline Compliance

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	Eastern Bank Uses Archer® to Drive Business Processes and Streamline Compliance Archer

Eastern Bank Uses Archer® to Drive Business Processes and Streamline Compliance

Archer

Technology Category	Analytics & Modeling - Process Analytics Application Infrastructure & Middleware - Data Exchange & Integration Cybersecurity & Privacy - Security Compliance
Applicable Industries	Finance & Insurance
Applicable Functions	Discrete Manufacturing Quality Assurance
Use Cases	Predictive Maintenance Process Control & Optimization Regulatory Compliance Monitoring
Services	Software Design & Engineering Services System Integration
Challenge	As Eastern Bank's assets approached the ten billion dollar mark, the bank initiated a strategic focus on risk management and regulatory compliance. The bank needed a solution to centrally manage documents and expedite the creation of reports related to the Financial Modernization Act, a law requiring financial institutions to make their information-sharing practices available publicly and safeguard sensitive customer data. The bank also wanted to move away from its previously siloed approach and implement a common, consistent taxonomy across the entire organization. Read More
About Customer	Eastern Bank is the largest and oldest mutual bank in the United States. It offers banking services, investments, and insurance from more than 120 locations spread throughout eastern Massachusetts and southern New Hampshire. The bank prides itself on working hard to understand its customers’ needs so it can deliver these services in a committed and personal way. The bank recently passed the significant milestone of having more than ten billion dollars of assets under management. Read More
Solution	Eastern Bank deployed multiple solutions from the Archer Suite, including Archer Enterprise & Operational Risk Management, Archer Audit Management, and Archer IT & Security Risk Management. The bank also took advantage of the flexibility of the Archer platform and added an in-house on-demand module where they assess the risk of new products, services, applications, and vendor onboarding. With Archer, Eastern Bank was able to capture a fully holistic view of projects before they even start. The bank also built its change management process within Archer, making the end-to-end documentation process fully transparent and organized. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Process Analytics

Application Infrastructure & Middleware - Data Exchange & Integration

Cybersecurity & Privacy - Security Compliance

Applicable Industries

Finance & Insurance

Applicable Functions

Discrete Manufacturing

Quality Assurance

Use Cases

Predictive Maintenance

Process Control & Optimization

Regulatory Compliance Monitoring

Services

Software Design & Engineering Services

System Integration

Challenge

As Eastern Bank's assets approached the ten billion dollar mark, the bank initiated a strategic focus on risk management and regulatory compliance. The bank needed a solution to centrally manage documents and expedite the creation of reports related to the Financial Modernization Act, a law requiring financial institutions to make their information-sharing practices available publicly and safeguard sensitive customer data. The bank also wanted to move away from its previously siloed approach and implement a common, consistent taxonomy across the entire organization.

About Customer

Eastern Bank is the largest and oldest mutual bank in the United States. It offers banking services, investments, and insurance from more than 120 locations spread throughout eastern Massachusetts and southern New Hampshire. The bank prides itself on working hard to understand its customers’ needs so it can deliver these services in a committed and personal way. The bank recently passed the significant milestone of having more than ten billion dollars of assets under management.

Solution

Eastern Bank deployed multiple solutions from the Archer Suite, including Archer Enterprise & Operational Risk Management, Archer Audit Management, and Archer IT & Security Risk Management. The bank also took advantage of the flexibility of the Archer platform and added an in-house on-demand module where they assess the risk of new products, services, applications, and vendor onboarding. With Archer, Eastern Bank was able to capture a fully holistic view of projects before they even start. The bank also built its change management process within Archer, making the end-to-end documentation process fully transparent and organized.

Impact #1	Enhanced visibility across Eastern Bank’s data has enabled the bank to effectively deliver on its mission.
Impact #2	The bank can now assess risk across the entire bank from a centralized vantage point.
Impact #3	The bank can map the whole environment to get a horizontal view of risk through the individual business units.

Impact #1

Enhanced visibility across Eastern Bank’s data has enabled the bank to effectively deliver on its mission.

Impact #2

The bank can now assess risk across the entire bank from a centralized vantage point.

Impact #3

The bank can map the whole environment to get a horizontal view of risk through the individual business units.

Benefit #1	Eastern Bank now has over 10 billion dollars of assets under management.
Benefit #2	The bank has more than 1,500 deployments including more than 90 of the Fortune 100.

Benefit #1

Eastern Bank now has over 10 billion dollars of assets under management.

Benefit #2

The bank has more than 1,500 deployments including more than 90 of the Fortune 100.

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Overview

Eastern Bank Uses Archer® to Drive Business Processes and Streamline Compliance

Operational Impact

Quantitative Benefit