A national bank with over 600 locations across the Mid-West acquired a regional bank creating one of the largest banking institutions in the U.S. with assets over $400 billion. During the integration of operations, the company sought opportunities to improve the efficiency of its outbound communications to meet the greater volume that would be produced by the new entity.
The newly formed bank had several options to consider including building a new production facility or replacing their existing printing infrastructure, both of which would require a large capital investment and financial commitment. A third option was to find an outsourcing partner to manage the print, mail and digital delivery of its communications. The new entity required a partner with the ability to expand services with new bank acquisitions and who had a proven track record of success in providing efficient communication solutions for highly regulated financial companies.
The bank selected Computershare Communication Services for our experience with large-scale projects with financial institutions. With more than 530 million images processed and more than 200 million mail packs delivered annually in the U.S. alone, the Computershare partnership provides the scale the new banking institution needed through our multi-site distributive print network and purchasing power for courier services. The Computershare project team worked with the bank to design a phased approach to outsource its print and delivery operations within 90 days.
The initial phase required the transition of the demand deposit accounts (DDAs) bank statements, loan bills and notices from all business units. The Computershare team analyzed documents and classified each based on characteristics such as inputs and approvers to minimize impact on the bank staff and to ensure a quick development process. The approved project timeline clearly defined when documents would be available for testing by stakeholders, and Computershare held firm to the schedule to ensure completion of signoffs. As approvals were received by the business units, documents were moved into production every day for the final two months of the transition resulting in dozens of documents going live weekly.
Within the first 90 days of the partnership, the bank transitioned more than 250 document types from internal operations to Computershare completing the initial phase of outsourcing its print operations.
Today, Computershare has transitioned more than 300 document types encompassing all aspects of customer communications. We currently process more than four million images per month and our platforms work seamlessly with the bank’s core applications.
Since the initial transition, the partnership has grown to include additional solutions that continue to reduce costs and improve workflows for greater efficiency. These include printing of targeted promotional marketing offers of banking products and services on statements, streamlining auto dealer statements delivery process for their lending division and reducing return mail costs. To meet the growing demand for digital delivery, the bank utilizes Computershare’s enterprise content management system for several applications to allow both customer and internal staff to access account documents via secure online portals.