Large-Scale Bank Decreases Labor and Shipping Costs with Exela’s IntelliScan XDS⁵ Scanner

Large-Scale Bank Decreases Labor and Shipping Costs with Exela’s IntelliScan XDS⁵ Scanner

CHALLENGE

A large-scale bank wanted to digitally transform its physical archive of original mortgage collateral documents. With manual handling, original documents were vulnerable to being lost or misfiled due to human error, resulting in a financial risk associated with not having the original collateral documents. 

Investors considering purchasing mortgages often request a statistical sampling of original documents. When shipping documents for a statistical sampling request, the packages were vulnerable to being lost in transit or damaged. Also, with the documents out of the physical archive, the client could not access the documents for any other interested investor.

The client wanted to keep original documents physically archived while having a digital archive to serve as a backup, audit tool, and possible revenue stream for when investors purchase loans. The client wished to lower the amount of manual handling of the documents while also decreasing labor costs for manual processing.

 

SOLUTION

The client turned to Exela to facilitate the automation process. Due to the client requiring all capture to be in-house for security reasons, six IntelliScan XDS5 scanners were delivered to one site and two were delivered to another. The IntelliScan XDS5 is an industry-leading scanner that delivers high-volume imaging solutions ensuring high-speed production scanning and data capture to enable increased productivity and reduced processing costs.

Exela worked with the client to optimize the connection of the scanners to the client’s back-end workflows, improving efficiency between the IntelliScan XDS5 scanner and the client’s current systems. Exela also increased the scanning throughput by including additional USC workstations to eliminate any high volume potential performance bottlenecks.

With its wide range of document sorting capabilities, the IntelliScan XDS5 reduced the amount of work needed for both the pre-scan document separation and the post-scan document reassembly. Exela employees created job setups for the scanners to efficiently scan different documents according to different business rules. With the high-volume and high-speed of the IntelliScan XDS5 scanner, the client increased efficiency, decreased labor costs, and opened up a new revenue stream allowing them to offer electronic copies of original documents as a package item to interested investors.
 

BENEFITS
  • Scans 9 million pages monthly
  • Decrease in labor cost
  • Decrease in shipping costs to investors
  • Opens up a new revenue stream with investors
  • Visibility into audit trail for original documents