Overview
For Carter Bank, a back-office bogged down by a manual, paper-based workflow was more than an inconvenience. It was a major obstacle to efficiency and compliance.
Its operations team was trapped in a cumbersome, inefficient process that demanded a dramatic change to ensure ongoing, effective and efficient management of payment disputes.
By implementing FINBOA's intelligent automation platform, the bank ignited a transformation that resulted in an extraordinary ROI, a drastic reduction in processing time and a much more streamlined and compliant process that put Carter Bank back in control.
The company
Carter Bank emphasizes personalized, relationship-focused service and offers a full spectrum of retail and commercial banking services, including checking and savings accounts, certificates of deposit (CDs), money market accounts, IRAs, mortgages, home equity lines of credit, personal and auto loans and credit cards.
For business clients, it provides business deposit accounts, commercial real estate loans, construction loans, business credit cards, cash management, merchant services and tailored insurance solutions.
The challenge
Carter Bank faced the all-too-common challenge of a back office overwhelmed by inefficient, manual processes. The dispute claims workflow was a cumbersome, paper-based system that wasn’t only prone to errors but also created a heavy administrative burden on staff.
Relying on disconnected systems and manual data entry, the bank was struggling to maintain compliance and was exposed to mounting operational risks. The sheer volume of transactions and the complexity of the manual process meant valuable time was being spent on tedious tasks, taking teams away from more meaningful work. Therefore, the bank needed a modern, centralized solution to streamline its high-volume transactions and free its teams to focus on impactful growth.
The solution
Carter Bank chose to partner with FINBOA to implement a highly configurable platform that digitized the entire dispute claim process. The solution was designed to seamlessly integrate with their existing systems, creating a single, centralized platform for all dispute activity. By automating the workflow from intake to resolution, FINBOA delivered a solution that not only solved Carter Bank's current challenges but also provided a clear path to lasting efficiency and scalability. The implementation was fully collaborative and supported by FINBOA's team of experts from day one.
