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Transforming Remittance Processing

Top U.S. bank leverages Exela’s technology and expertise to reduce labor demands and improve payment processing efficiency.

Challenge

The bank was facing narrowing profit margins and a growing workforce dedicated to manual paper check processing. In order to combat rising costs and slow processing, they sought a partner that could introduce automation technology in order to streamline their remittance operations, while also helping them avoid a traditional BPO model, which would be culturally misaligned with their commitment to their existing workforce.

  • More than 600 employees

  • Growing costs

  • Slow processing times

  • Employee-centric culture

Solution

Exela provided a solution that retained and converted the existing onsite workforce and added the technology necessary to digitally transform their traditional onsite activities.

  • Exela manages six bank locations across the U.S.

  • Onsite technology upgrade, including state-of-the-art scanning equipment

  • Integrated with Exela’s omni-channel payment processing platform

Benefits
  • Introduced process efficiencies and cost savings

  • More than 170 million transactions are captured, digitized, and processed annually

  • Guaranteed employee benefits and human capital continuity

  • Optimized technology, including the future use of Intelliscan XDS