The 2009 SIFMA-IBM Technology Survey Results
Download these survey results and find out what SIFMA members revealed about new technologies and computing models and how they are managing major industry challenges.
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Cutting Costs Through Eliminating Third-Party Vendor Use
Overview: Kinecta Federal Credit Union faced its third and final attempt at adopting a document imaging solution to meet the company’s business needs at the turn of the millennium. Kinecta originally faced challenges in consumable costs, business efficiency, and services, which have since been addressed successfully with document imaging and workflow. The credit union succeeded in reducing expenditures by more than $200,000 annually. One of the largest credit unions in the United States, Kinecta serves over 230,000 members through 22 member service centers. The solution allows Kinecta to fill member requests for a single cleared check copy within minutes, compared to the days or weeks required under the previous solution. This has enabled Kinecta to provide exceptional customer service. Access through a web client has made tasks easier for employees, and has increased overall productivity and morale. The system architecture has decreased the overhead on administrative responsibilities and allowed for increased document and data security. This case study presents the business challenges faced as this credit union faced its third implementation, which led to a very successful solution that continues to grow and change to meet its members’ needs.

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