HENDERSON, Nev.—Good document management practices can boost employee productivity by 30%-40%, according to one expert who sees many more CUs shifting to teller capture over branch capture next year.
Hal Tilbury, president and CEO of Bluepoint Solutions, said such efficiencies are the primary reason for the growing interest in teller capture, as well as the benefits of limiting check fraud and improving member service.
“We see checks as a document type that has not been managed according to best practices for content management,” said Tilbury. “We feel there are a lot of inefficiencies in credit unions everyday because they are not managing their checks—and documents—according to best practices. We thump that bible every day and hope to help credit unions. If they adopt best document management practices they can improve employee productivity 30%-40%. That is a big number at any size credit union.”
Attitude Shift
Tilbury said Bluepoint is seeing a “major shift” in attitude regarding teller capture.
“It used to be credit unions simply wanted branch capture. But now that they mostly have branch capture implemented, they now understand capturing documents at the point of presentment is much more efficient than having tellers line up at the end of the day for the scanner,” said Tilbury. “So we are seeing a major emphasis here.”
Capturing checks at the point of presentment also improves member service, added Tilbury, since funds are deposited in real time and members always know how much money they have.
“Plus, fraud detection is better with teller capture,” he said. “In real time tellers can see if the funds are legitimate, and check to see if possibly a mistake has been made and the check deposited online earlier. If there is an issue, tellers can stop the check or put a hold on it right then. None of that can be done in the branch capture mode.”
Millennial Interest
Tilbury said the same level of interest is also being shown in mobile capture—especially as a means to serve Millennials—and online account opening.
“We see particular interest in finding ways to speed up the online new account and loan opening process, and that is now applying to auto loans as well,” said Tilbury. “Credit unions are looking for ways to optimize e-channels for mobile, so the process not only moves faster but members have to key in less data via their mobile devices.”