Greater Operational Efficiency through Automation in Standard Bank

Standard Bank & Trust Co., a $2.2 Billion bank with 37 branches throughout Illinois and Northwest Indiana, was facing several operational challenges. The bank needed an efficient way to identify the various personal and business account portfolios for each customer, view the total account relationships, and understand the profitability of a given customer. However, the process of associating the accounts with one another and performing the thousands of necessary changes was proving to be a manual, time-consuming, and resource-intensive task. Additionally, the bank was also dealing with the challenge of reassigning accounts to different employees in the event of a job change, which could involve up to 5,000 accounts per incident. Another significant challenge was the annual dormant debit card purge process, which required the bank to manually search for cards that had been unused for nine months or more and change their status to “closed”. This process involved up to 10,000 cards per year and could take over 150 employee-hours to complete.

Standard Bank & Trust Co. is a $2.2 Billion bank with 37 branches throughout Illinois and Northwest Indiana. Established in 1947, the Chicago-based organization believes in helping to build the communities in which it resides through volunteer work, partnerships with schools, local hiring, and more. In 2013, Standard Bank & Trust Co. was given the Illinois Bankers Association Community Service Award for going “above and beyond” in supporting the educational, cultural, and health and welfare needs of individuals in their geographic area. As the bank and its customer base grew, it found itself facing several operational challenges that required significant manual effort to overcome.