Heritage Oaks Bank Institution for Savings Bank Fort Sill National Bank

Heritage Oaks Bank used Foxtrot for Their Data Conversions

The Problem
After acquiring a branch and another bank on two separate occasions, Heritage Oaks Bank was left with thousands of accounts that required clean-up and migration. The work included pre-conversion G/L builds and purges, product re-writes and re-pricing, account migration, and data testing. While the core vendor would have performed the work of converting the 3,000 accounts following their branch acquisition, the service came with a price of $225,000. The prep and clean-up of over 17,000 accounts before and after the acquisition would cost many thousands of dollars more, or the bank would have to sacrifice countless man-hours of manual data entry. Another $40,000 would be handed over to the core vendor if they were to perform the required product re-writes and re-pricing.

The Solution
Heritage Oaks Bank used Foxtrot to automate their bank data conversion before and after their acquisitions. See Heritage Oaks Bank’s results from using the Foxtrot Robotic Process Automation technology for their data conversions:

  • Automated tasks for less than 1/10 the cost of outsourcing to the core vendor
  • Handled the work of 5-plus full-time employees
  • Completed 15-20 hours of work in about one hour
  • Saved the bank over $250,000

Listen to EVP and CIO, of Heritage Oaks Bank, Paul Cook, talk about using Foxtrot as a solution: 

Institution for Savings Bank used Foxtrot for Multiple Manual Processes

The Problem
Following a conversion from one core processing system to another, Institution for Savings’s representatives were faced a mountain of manual data entry and maintenance to clean-up and validate their big data. In subsequent years, withholding rate changes and field updates in their core system presented additional challenges for the bank to have accomplished, which would consume time and resources.

The Solution
Institution for Savings Bank used Foxtrot to automate interest rate changes and many other investment account updates and data format changes following their conversion. Furthermore, the bank continues to use Foxtrot throughout their organization to automate many of their data-related processes. See Institution for Savings Bank’s results from using the Foxtrot Robotic Process Automation technology for their many data-processes:

  • Automates interest rate changes on 200 IRS accounts without manual work
  • Updates risk fields in 20,000 CIFs in minutes
  • Saves time on multiple other projects

Listen to Wesley Barry, VP of Retail Banking, for Institution for Savings Bank, talk about using Foxtrot as a solution: 

Fort Sill National Bank uses Foxtrot for Discrete Data Maintenance Processes

The Problem
While Fort Sill’s mass data maintenance tools work well for global updates to customers’ accounts, making smaller changes to smaller, but still significant, numbers of accounts requires extensive manual updates. Twice daily changes to ACH information, Regulation E updates, and fee assessments would mean Fort Sill National would have to pull workers off of their regular jobs to spend days at a time manually changing data in their core processing system

The Solution
Fort Sill National Bank saves hundreds of hours by using Foxtrot to automate discrete data maintenance tasks. Foxtrot is able to automatically perform strategic changes to small subsets of accounts based on criteria set up by the bank. See Fort Sill National Bank’s results from using the Foxtrot Robotic Process Automation technology for their many data maintenance processes:

  • Automates Regulation E elections on as many as 2,000 accounts per month
  • Assesses activity fees to thousands of accounts each month with no manual effort
  • Saves hundreds of hours per month in account maintenance time

Listen to AVP Operations, of Fort Sill National Bank, Tammy Nix, talk about using Foxtrot as a solution: 


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