As one of the top 8 financial institutions in the U.S., this firm was searching for opportunities to maintain its competitive edge in a continuously evolving and demanding marketplace. Delivering superior products and customer experiences was at the forefront of its priorities. But, extensive resources were being pulled away from its core banking operations to manage its LockBox processing activities, spread across six different cities. The bank was also struggling to keep on top of emerging technologies and the latest industry best practices, while, at the same time, trying to improve customer retention and acquisition rates through exceptional customer service. Although the bank has been outsourcing other onsite operations to Exela for the past 30 years, it wanted to take the next step towards total re-allocation of resources. Customer data security and privacy were additional considerations for the bank.