Teachers Mutual Bank had a highly inefficient, manual process in place for daily processing of dishonoured transactions. Nine staff were involved with this method which was susceptible to user bias.
Innovior used automation to re-engineer the process, ensuring full integration with the bank’s core banking system and leveraged their Customer Credit Score Card to drive decisions on whether to honour or reject transactions that breached credit limits. This resulted in a more compliant approach that is no longer influenced by personal bias.
Repurpose five staff to
Save $240,000 annually Payback period less than 12 months
Compliance – introduced Credit
Scorecard for decisioning