First Bank of Carmi, a community bank with 12 branches across Illinois and Indiana, faced increasing difficulty managing Regulation E payment disputes using manual spreadsheets and paper-based forms. With growing dispute volumes and a single employee responsible for tracking compliance deadlines, the bank risked missed regulatory timeframes, processing delays, and poor customer experiences. Challenges such as delayed intake, incomplete data collection, and dependency on in-person signatures highlighted the need for a modern, automated solution.
To solve these issues, First Bank of Carmi implemented FINBOA Payment Disputes, to digitize paper processes, automate Reg E tracking and centralize workflows.
Stephanie Johnson, Operations Team Lead and Security Officer, shared that the bank immediately saw a 50% reduction in dispute processing time, improved accuracy of intake data, and faster turnaround on provisional credits. By eliminating spreadsheets and manual workflows using FINBOA Payment Disputes the bank gained flexibility, visibility, and peace of mind in meeting Reg E requirements.
Learn how First Bank overcame inefficiencies and communication challenges with automation, cutting claim processing time in half while improving information access, communication and the customer experience. Download the full case study here.