Illinois National Bank Reduces Costs, Achieves A Competitive Advantage With ibml Scanning And Document Capture Solution

Lockbox processing remains a lucrative business for financial institutions, representing billions of dollars annually in fees and interest income, plus revenues from ancillary bank treasury services. It also is a critical differentiator in a financial institution’s ability to win and retain corporate clients.

For years, the lockbox market has been dominated by large financial institutions who have flexed their financial might to invest in the infrastructure necessary to meet the needs of corporate clients.

But Illinois National Bank, an 11-branch institution based in Springfield, Ill., is using a scanning and document capture solution from ibml to level the playing field against its larger competitors, some of whom are among the top U.S. banks, and one of which has a processing facility in the same town.

Since deploying the ibml scanning and document capture solution in 2009, Illinois National Bank has reduced its full-page scanning and processing costs, won new business in the lucrative healthcare and government markets, and grown its scanning and data capture revenues from existing customers. Illinois National Bank is using two ImageTrac® high-speed scanners powered by ibml’s SoftTrac® Capture Suite software. The bank keeps a third ImageTrac scanner at its disaster recovery site.

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