ibml Announces the Sale of its Advanced Capture Solution to U.S. Regional Bank for Loan Closing Application
April 2, 2014
Bank to use ibml’s SoftTrac Synergetics and ImageTrac production desktop scanners to automatically capture, classify and route loan closing documents
ibml, a leader in information capture solutions for the enterprise, today announced the sale of an advanced, end to end capture solution to a regional bank based in the United States. The solution will be deployed to automate and improve the loan closing process.
The sale consists of the SoftTrac Capture Suite with SoftTrac Synergetics, ibml’s advanced intelligent document recognition and classification software, and two ImageTracDS 1085 production desktop scanners, along with professional services.
The bank receives a mix of paper-based and electronic loan closing documents, typically in batches of 400 pages to 500 pages. The old loan closing process required staff to manually separate and route individual documents. SoftTrac Synergetics will eliminate this slow and costly process by automatically classifying and separating documents from batches, and routing documents to the required individual or processing step.
By automating the processing of these loan documents, the bank expects to accelerate loan closing times by up to 25 percent, reduce labor costs, and better manage fluctuating loan volumes without adding additional staff or software.
SoftTrac Synergetics was selected over competitive products because of its integration within ibml’s end to end capture solution, the lower total cost of ownership (TCO) and as the best option to allow the company to quickly expand applications and users in the future. Synergetics offers server-based licensing with no page click charges or seat license costs. The thin client web architecture can easily be expanded to take on new applications, more users and higher volumes.
SoftTrac Capture Suite is ibml’s enterprise capture software that enables the customer to use the same document preparation, capture jobs, business rules, software workflow process, database and end-user training on all scanners. No other information capture company can offer this range of end to end document capture solutions.