MOSINEE, Wis., Feb. 9 /PRNewswire/ — International Bank of Commerce (IBC) will deploy an enterprise-wide implementation of WAUSAU’s New Account Capture Enterprise Content Management (ECM) solution, following a successful pilot installation. IBC is a subsidiary of International Bancshares Corporation (NASDAQ:IBOC) , a $10.7 billion multi-bank financial holding company headquartered in Laredo, Texas, with more than 220 facilities and serving more than 90 communities in Texas and Oklahoma.
“IBC’s continual pursuit of strategic expansion requires an enterprise-wide solution that will support the bank’s present and long-term, growth initiatives,” said Dennis E. Nixon, Chairman and CEO for IBC. “We persistently seek our partnerships and solutions that will merit the strong loyalty of our customers, while further serving our community and adding value for our shareholders.”
The implementation follows IBC’s prior deployment of WAUSAU’s ImageTeller(TM) solution, which truncates checks at the teller line. New Account Capture complements WAUSAU’s existing suite of capture solutions and is a natural addition to IBC’s total capture strategy. The WAUSAU solution integrates with a financial institution’s new account platform and allows for the digital signing and electronic routing of documents for automated validation and auditing.
The WAUSAU New Account Capture offering ensures that transactions are processed securely and efficiently, and focuses on decreasing the amount of resources utilized during the new account acquisition process. Using New Account Capture, customer signatures and photos can be viewed immediately at all branches for verification of identity. In addition, photo IDs can be scanned and then automatically classified, archived and indexed, along with the new account documents. The platform, Optima(3)(R) IMS, is configured with the financial institution’s business logic to determine how each document should be handled once it is incorporated in the electronic workflow.
“The combination of capture and workflow successfully automates the standard, paper-intensive, new account process and addresses the challenges financial institutions are facing in respect to the rising costs of paper handling, storage fees and transportation from courier runs, associated with the opening of new accounts,” stated Kathy Strasser, Senior Vice President – Enterprise Content Management Solutions for WAUSAU.
Based on projected results, IBC expects to reduce its courier runs from five days to two days per week through the implementation of New Account Capture. This represents a 60 percent reduction in transportation costs. Its audit and validation process will realize an 80 percent improvement in turn-around time, cutting its current five-day process down to next-day, and the bank will also save over one million printed pages per year, which represents a 40 percent reduction in output.
“We see WAUSAU’s New Account Capture solution as the next phase towards transitioning to an automated and image-based environment,” said Rene Avila, Executive Vice President for IBC. “Our commitment to provide the most efficient services to our customers remains strong, and we are extremely excited about the opportunity to further enhance our competitive strength in the marketplace.”
International Bank of Commerce (IBC Bank) is a member of International Bancshares Corporation (NASDAQ:IBOC) , a $10.7 billion multi-bank financial holding company headquartered in Laredo, Texas, with more than 220 facilities and more than 360 ATMs serving more than 90 communities in Texas and Oklahoma. Find more information about International Bancshares Corporation at http://www.ibc.com/ .
WAUSAU is a premier provider of payment and remittance processing solutions, serving businesses of all types to develop strategies that move money faster. With its products, services and consulting, WAUSAU works with customers to speed check processing, electronic presentment, ACH payments, transaction processing, distributed capture and enterprise content management. WAUSAU’s innovative solutions provide results for a wide range of organizations including financial institutions, insurance companies, utilities, retail businesses and governmental agencies. Find more information about WAUSAU at http://www.wausaufs.com/ .