Nintex Case Studies Extraco Banks Enhances Customer Experience with Nintex RPA

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	Extraco Banks Enhances Customer Experience with Nintex RPA Nintex

Extraco Banks Enhances Customer Experience with Nintex RPA

Nintex

Technology Category	Analytics & Modeling - Process Analytics Analytics & Modeling - Robotic Process Automation (RPA)
Applicable Industries	Equipment & Machinery Finance & Insurance
Use Cases	Leasing Finance Automation Material Handling Automation
Services	System Integration
Challenge	Extraco Banks, a community bank with over $1.5 billion in assets and 120,000 customers across 15 branch locations, was facing a challenge with its remote deposit capture (RDC) approval process. The process was manually reviewed and approved by the bank’s call center staff twice a day, which was time-consuming and inefficient. The bank wanted to automate this process to free up its staff and expedite the process for its customers. One of the bank’s most manual processes was approving RDC requests. Extraco’s call center team of just 15 was responsible for reviewing RDC requests in addition to fielding customer calls and questions. The manual process meant customers had to wait hours, sometimes days, to know if they were approved for remote deposit capture. The slow drawn-out approvals resulted in calls into the bank’s call center, with remote deposit capture requests ranking as one of the most common complaints. Read More
About Customer	Extraco Banks was founded in 1902 as a cotton compress and warehousing business in Waco, Texas. Today, Extraco (an acronym for Exporters and Traders Compress) is the largest and most comprehensive independent financial institution in central Texas with more than $1.5 billion in assets and 120,000 customers across 15 branch locations. Extraco has adopted a lean culture focused on eliminating waste and process improvement. In 2016, the bank 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. Read More
Solution	Extraco Banks decided to implement Nintex RPA to automate the remote deposit capture approval process. With Nintex RPA, remote deposit capture requests are now completed in three to five minutes and processed (if there are requests) every hour, each day. Customers no longer need to wait until Monday morning for an after-hours request on a Saturday to be processed. Extraco worked with the Nintex team to build the solution in just 12 hours. Now, a Nintex RPA Botflow checks the online portal for RDC requests every hour, and processes any existing requests. In addition to reviewing RDC requests, the bot also approves or turns off the customer’s ATM deposit feature if the customer score is high enough – an additional step call center staff would usually take. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Process Analytics

Analytics & Modeling - Robotic Process Automation (RPA)

Applicable Industries

Equipment & Machinery

Finance & Insurance

Use Cases

Leasing Finance Automation

Material Handling Automation

Services

System Integration

Challenge

Extraco Banks, a community bank with over $1.5 billion in assets and 120,000 customers across 15 branch locations, was facing a challenge with its remote deposit capture (RDC) approval process. The process was manually reviewed and approved by the bank’s call center staff twice a day, which was time-consuming and inefficient. The bank wanted to automate this process to free up its staff and expedite the process for its customers. One of the bank’s most manual processes was approving RDC requests. Extraco’s call center team of just 15 was responsible for reviewing RDC requests in addition to fielding customer calls and questions. The manual process meant customers had to wait hours, sometimes days, to know if they were approved for remote deposit capture. The slow drawn-out approvals resulted in calls into the bank’s call center, with remote deposit capture requests ranking as one of the most common complaints.

About Customer

Extraco Banks was founded in 1902 as a cotton compress and warehousing business in Waco, Texas. Today, Extraco (an acronym for Exporters and Traders Compress) is the largest and most comprehensive independent financial institution in central Texas with more than $1.5 billion in assets and 120,000 customers across 15 branch locations. Extraco has adopted a lean culture focused on eliminating waste and process improvement. In 2016, the bank 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.

Solution

Extraco Banks decided to implement Nintex RPA to automate the remote deposit capture approval process. With Nintex RPA, remote deposit capture requests are now completed in three to five minutes and processed (if there are requests) every hour, each day. Customers no longer need to wait until Monday morning for an after-hours request on a Saturday to be processed. Extraco worked with the Nintex team to build the solution in just 12 hours. Now, a Nintex RPA Botflow checks the online portal for RDC requests every hour, and processes any existing requests. In addition to reviewing RDC requests, the bot also approves or turns off the customer’s ATM deposit feature if the customer score is high enough – an additional step call center staff would usually take.

Impact #1	The implementation of Nintex RPA has significantly improved the efficiency of Extraco Banks' operations. The automation of the remote deposit capture approval process has not only saved the bank an estimated 1,200 hours a year but also improved the customer experience by reducing the waiting time for approvals. The solution was built in just 12 hours, demonstrating the speed and efficiency of the Nintex RPA platform. Furthermore, the solution has proven to be highly scalable and adaptable, as evidenced when the bank experienced an unprecedented demand in RDC requests due to the Coronavirus pandemic. The bank was able to handle over 40 RDC requests a day, more than four times its daily average, without any delays or disruptions.

Impact #1

The implementation of Nintex RPA has significantly improved the efficiency of Extraco Banks' operations. The automation of the remote deposit capture approval process has not only saved the bank an estimated 1,200 hours a year but also improved the customer experience by reducing the waiting time for approvals. The solution was built in just 12 hours, demonstrating the speed and efficiency of the Nintex RPA platform. Furthermore, the solution has proven to be highly scalable and adaptable, as evidenced when the bank experienced an unprecedented demand in RDC requests due to the Coronavirus pandemic. The bank was able to handle over 40 RDC requests a day, more than four times its daily average, without any delays or disruptions.

Benefit #1	1,200 hours saved a year
Benefit #2	Remote deposit approvals in half the time
Benefit #3	Complete RPA solution built in 12 hours

Benefit #1

1,200 hours saved a year

Benefit #2

Remote deposit approvals in half the time

Benefit #3

Complete RPA solution built in 12 hours

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Overview

Extraco Banks Enhances Customer Experience with Nintex RPA

Operational Impact

Quantitative Benefit