Financial Services

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A major consumer lending company with over 3,000 employees servicing approximately 3.5 million customers nationwide needed to replace the antiquated in-house COLD system which was difficult and time consuming to use. They were in search of a new, feature-rich system that could meet current requirements and be robust enough to support the growing volume of output of 45% per annum [48,600,000 pages].

The company manages over $10 billion in assets and supplies consumer lending and deposit products nationwide, including VISA and MasterCard credit cards, secured credit cards, revolving lines of credit and home equity loans.

Serving a diverse market, with a strategy to become the "Primary Lender", the company’s growth had been fueled by an ability to understand consumers' borrowing needs and to design lending products to meet those needs. The company manages all of the critical IT functions in house which created a strong culture of hands-on managers. This approach resulted in the ability for the organization to capture and interpret pertinent data to quickly respond to changing market conditions. As the consumer market continues to grow the company will improve the formula for success to increase the total number of customer relationships. The demonstrated results are:

• The most profitable bank for its asset size
• The most profitable credit card company in the US
• Account base of 7,200,000 credit card holders

The vendor selection criteria for all strategic relationships are highly competitive. INSCI’s first opportunity for entrance in to the organization was initiated by a need to acquire an archive and retrieval system for Metacode and PCL output documents consisting of welcome packages and account agreements - 200,000 packages per month. The output streams were complicated and could not be handled by their own "home grown" COLD system that archived their credit card statements of 9,000,000 pages per month.

As INSCI began to solve the most complicated Intelligent Data Stream (IDS) problem, Metacode and PCL output, INSCI developed the client’s interest in the COINSERV features and benefits lacking within the home grown system. In parallel with this awakening, a business crisis occurred. The data processing vendor had changed the format of statements to AFP, a format the system could not handle. As a result, an enterprise contract for all of their output was negotiated based on the successful cost-effective implementation of a solution for AFP statements.

Key factors in the enterprise decision were:

• In house staff confirmed the level of difficulty associated with modifying the existing system plus the elapsed time required to modify the in house system would be cost prohibitive
• The in house system was missing many key features that COINSERV enjoys as standard offerings
• The in house system was costly to maintain
• Ability to process all the required IDS - AFP, Metacode, and PCL.
• Ability to view the document (the in-house system only gave users the ability to request a print)
• Lights Out Operation
• Unattended downloading options
• Automatic migration to optical with HSM
• Batch reprints
• Notes

• A valuable component of the strategic technology information management hierarchy
• An outstanding performer for Enterprise Document Repository and management requirements

• Web access
• Imaging and COLD in an integrated virtual folder
• A workflow module to replace installed Viewstar package which is cumbersome, rigid and expensive
• CD capability