Success Stories
 
Case Study: Finance
Bank of America Card Services
 
     

Bank of America Card Services located in Norfolk, Virginia, provides the customer service aspect to handling customer credit card transaction dispute claims. For each item on a customer's statement that is placed into dispute, an electronic case of document images is kept for all correspondence between the bank associate, the customer and the merchant involved with the claim. Documents consist of emails, mailed in letters, system generated letters, card holder statements, images from VISA and MasterCard, incoming and outgoing faxes.

Business Challenge
Bank America has a large portfolio of credit card customers. It handles a high volumes of transaction disputes daily that require regulatory documents and supporting information. Examples include dispute letters, exhibit E, credit card drafts and response from customer forms.

Regulations require the documentation to be kept for 7 years after a dispute has been closed. It can take six months to a year to resolve a dispute from the time it is opened until it is closed. Managing this paper-intensive environment is a mission-critical activity. Streamlining related business processes has increased productivity, accelerate dispute processing and enhance customer satisfaction.

Why Document management?
Scanning and indexing these documents for electronic retrieval and workflow offered a more efficient solution than pushing paper from desk to desk. With such a high volume of disputes and the related documentation, there would be no way to store and effectively retrieve the documents. The bank would run out of physical storage space for paper files.

Several Bell & Howell scanning workstations, employing Kofax Ascent Capture software, capture the incoming paper documents. Software brings in electronic drafts from Visa and Mastercard. Incoming faxes are captured and converted to document images. System generated letters created by merging data from the database are captured and turned into documents. All these electronic documents are attached to the case.

Client personnel could then scan, index, and release documents using a Kofax software application, Ascent Capture. IBM's iSeries Content Manager application is the software back end for archival, retrieval and workflow. Statement retrieval uses IBM's iSeries On Demand software. Using Client Access, Content manager and Facsimile/400 has allowed associates to receive incoming faxes at their desktop as well as sending outbound faxes of screen shots of many data applications. For letters that were generated on preprinted letterhead, these were replaced by using a letterhead overlay that allows the letters to be printed on plain paper with the bank logo applied at printing time. This has saved money on preprinted forms.

How Has it Worked?
Document imaging solution was a huge success. New applications and enhancements are continually being added to the system.

 

 


 
 
         
   
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