Case Study: Canadian Bank

The personal and commercial banking group of a large Canadian bank sought to address inefficiencies in the origination and servicing of personal and commercial bank accounts, retail investments, and lending products. The goal was to originate documents in electronic format wherever possible, eliminating printing and the need for traditional ink signatures, enabling the client to automate loan origination and servicing via electronic forms, imaging, and workflow.

The Work

The client hired Doculabs to create an enterprise-wide vision for content management that included capabilities for imaging/capture, electronic forms, document management, and workflow. Initially, the client was considering integrating four different systems from four different vendors to achieve its process automation objectives. Doculabs presented an approach requiring just two systems and vendors, reducing the integration expenses by an estimated $2.5 million. Doculabs then worked with the client to develop a tactical execution plan for a pilot implementation for new account processing (including tactics for capture operations, indexing, and technology).

The Results

The resultant automation enabled the client to reduce its unit costs for loan origination from $140 per loan down to $110, and the client’s annual servicing costs dropped from $22 per loan down to $18. Over the 4 years since implementation, the client has recognized a total savings of $6.5 million. 

Doculabs’ fee for the project was $450,000.

Rich Medina
Doculabs consultants offer in-depth expertise in information management and information security across a number of industries, including financial services, insurance, energy, manufacturing, and life sciences. Our recommendations are based on our experience and empirical data from hundreds of consulting engagements over more than 25 years. As trusted advisors, we provide our clients recommendations that are completely objective.