Kawartha Credit Union – Ontario
Kawartha Credit Union has taken control of their document lifecycle. To alleviate the pressure of physical document storage and cost, Kawartha Credit Union chose FileOptics as their solution. In addition to these initial goals, FileOptics has ensured faster document access, increased their ability to address compliance challenges and has freed up front line staff to improve member services.
Kawartha Credit Union, well-known as one of the fastest growing credit unions in Ontario, is continually looking for more streamlined and efficient ways to run their business and improve member services. With their current size and future growth forecasts, they identified several improvement areas. These areas included physical document storage, faster data access, document security and document retention policies.
Every member requires documentation. Each member could require one or many member files, loan/mortgage documents and/or commercial and corporate files. These documents need to be stored, retrieved and maintained on a daily basis for several years with strict security and compliance standards. The same criteria also applied to Kawartha’s own internal documents, confirming their need to implement a system that would allow them to carry out these processes more efficiently at a reduced cost.
Once implemented, FileOptics provided immediate improvements to document retrieval and audit processes and as a result, Kawartha Credit Union has realized even more benefits than addressing the initial storage concerns.
The overall solution allows Kawartha Credit Union to focus on their primary objective, member service, and allows them to maximize employee productivity.
Since implementation, Kawartha Credit Union has identified several new opportunities provided by the FileOptics solution. Some of these benefits include:
- real-time access to member documents,
- improved fraud detection,
- elimination of unneeded or duplicate documents,
- discrete member services/management inquires/audit process,
- document tracking,
- privacy and legal compliance
- lower destruction costs.
Kawartha Credit Union love the system and are now better positioned to remain one of Ontario’s fastest growing Credit Unions and a leader in member service.