Business Processes are equally as important as your Data

Tying your Organization together through SharePoint and Nintex Workflows

 

Many organizations, especially banks, have such a diverse and varied data environment, that it is cumbersome to allow business processes to flow from one end of the organization to the other.  Sharing data is one thing. Sharing a business process is another.  Many software companies do a great job on the data side but fall very short on the business process side.   This is where BANKER|share and SharePoint/Nintex workflows can help take your organization to the next level of operational efficiencies.

Abel Solutions has identified, developed and automated many daily operational procedures that can save your institution valuable time in the branch as well as the back-office.  These automations also address many of the compliance gaps that may have come up in one of your many audits during the years.

As a part of our build-out strategy, Abel Solutions understands that banking institutions have many operational and compliance needs, many of which are very closely tied together. As we build out our solutions we work with banks to better understand the compliance requirements and reporting needs that are necessary in the overall solution.

Figure 1 — BANKER|share Solution Set Platform

The graphic to the right is an example of how a common event (the closing of an account) has been automated. This shows you the actions that need to happen in order to successfully close the account. This workflow demonstrates just one of the many processes that can be easily automated to increase efficiencies between organizational departments and/or teams.

 Figure 2 — Account Closing Process

Equally as important as the automation of the business process is the reporting.  Compliance and Audit will frequently ask for details from the business process side of the company.  This will always be available, but the use of the reports can vary. Examples are below:

  • How long does it take to close an account?
  • What branches are seeing the most fraud and by what type?
  • How long does it take get funds back to a customer regarding Check Fraud?
  • How long does it take to get information back from the lender in order to get a loan to Underwriting?

In most of our reports, we incorporate “Turn-Time” calculations that are important to the process. Reporting turn-time calculations allows users to measure the internal SLA’s to ensure they are meeting institutional goals as well as customer expectations.

Figure 3 — BANKER|share Reporting Metrics

Working into the future, Abel Solutions will continue to work with banks to identify business processes that can be automated. This will help address processes that are currently being performed by email or MS Excel/Word forms.  By automating your business processes you will notice the following benefits:

  1. The number of hours that your resources spend on various operational processes will be reduced.
  2. The automated process allows for accountability, follow up, and reporting for Compliance and Audit findings.
  3. Open up the communcations between the branch and back office.
  4. Address audit and compliance findings that arise due to manual processes not capturing needed details and timely follow-up.

 

This tip written by Abel Solutions Business Development Manager, Andy Newton