Banking

A leading global financial services company processes thousands of fraud disputes annually, primarily involving time sensitive documents critical to customer services and dispute resolution.

Situation

A leading global financial services company – coping with an ever-increasing customer base, leveraging primarily mail and fax based transmissions to send and receive documentation. Average dispute resolution time was 3 months which resulted in frustration for the customers, missing information on documentation which delayed the outcome, as well as moving physical paper around through various processes.

Objective

Create a highly efficient and centralized process for electronically capturing fraud dispute documents. Leveraging the existing fax infrastructure readily available to their client base and intelligent 2D bar code technology imbedded into the dispute forms.

Solution

A Kofax Capture front-end scanning solution consisting of high-speed Kodak scanners for physical paper and the Kofax Import Connector to import the fax documents into Kofax Capture for processing. A Kofax 2D bar code engine reads the data points resulting in a 2 week average dispute resolution time. Critical information embedded in the 2D bar code virtually eliminating missing data resulting in faster resolution and higher customer satisfaction.

White Paper - Enterprise Capture for Financial Institutions