US Bank Check Clearing Regulatory Compliance

US Bank Check Clearing Regulatory Compliance

US Bank Improves Check-Clearing Efficiency and Regulatory Compliance

A US Bank needed to improve its regulatory compliance with the Check Clearing act of 2004. Their processes remained highly manual and operations intensive instead of being digitized and streamlined as a result of the provisions of this act. This was the result of not really transforming operations to more efficiently utilize the scanning and workflow solutions that were implemented to meet this requirement. EI’s Banking Industry Consulting services provided an assessment of their Check Clearing compliance, highlighting opportunities for improving it and charting a roadmap toward better efficiency and compliance.

EI’s Business Transformation services analyzed existing processes and policies to come up with plans for transforming their operations to better leverage scanning and workflow solutions that were being underutilized. EI’s Enterprise Content Management and Solution Implementation services worked with IT to engineer the capabilities that the new operating model would use, and deployed these capabilities across their network of banks. As a result of working with EI, the client improved its check-clearing capabilities while improving its regulatory compliance with the Check Clearing Act of 2004 and was able to rededicate the operational capacity to more strategic needs.