A case study of digital mail solution for a  global investment bank 

 

About the customer

The client is a multinational investment bank and financial services company that offers a wide variety of services across the corporate and commercial banking environment, with over 75,000 members of staff. With back-office challenges such as manual processes still in place for inbound documents, staff were regularly distracted from more value-add activity to deal with mail collection or delivery. To alleviate these challenges, the bank wanted to remove paper from its processes wherever possible.
 
The bank knew that a more efficient way of delivering and communicating documents internally could make a real difference to its service, looking to its long-time partner of two decades Swiss Post Solutions (SPS) to find the answer.

The Challenge

Long, manual processing times

The bank’s inefficiencies stemmed from the incoming flood of paper documents. The bank’s employees were having to carry out time-intensive back-office tasks, such as:
  • Paper-based processing causing bottlenecks in the mailroom,
  • Key customer documents as well as internal items faced lengthy delays
  • Pressure for the on-site team
  • Straightforward activities such as address changes were facing timelines in weeks rather than days.
Incoming mail required manual delivery or collection from the bank’s mailroom, a sizable challenge with around 1000 staff employed at the bank’s headquarters. These items often went undelivered, often building up in mail trays and forcing mailroom staff to manually follow up via email. By outsourcing back-office tasks the company aimed to provide its employees with the freedom they needed to drive the expansionary growth strategy forward.
 
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The Solution

SPS Digital Mail Solution

SPS rose to the challenge, moving to implement its Digital Mail solution augmented by its centralised SPS Lite platform. SPS’ ​Digital Mail solution​ firstly brought a portion of the bank’s inbound mail operation off-site to SPS’ specialised London Mail Centre, enabling key documents to be scanned, digitised and delivered electronically rather than manually by mailroom staff. With SPS’ scanning functionality in place, the bank could achieve:
  • Streamlined approach to internal communication.
  • A significant amount of incoming mail has become digitally accessible, resulting in less manual chasing
  • Documents can easily be shared across long distances – an important consideration for a multinational bank
  • SPS also provided a solution to ease the arrival of the newly digitised correspondence with SPS Lite. SPS Lite provides a centralised platform for scanned documents to be delivered, providing each employee or department with its own shared box for incoming mail
Learn more about Document Processing solutions by SPS
 

The Benefits

Adapting to the new normal of remote working

SPS’ solutions have made significant changes to the bank’s back office operations, meeting the goals set at the beginning of the process. With the bank’s documents now digitally available, both internal and external communications are much faster. These changes have become especially relevant during the current global pandemic, helping the bank support the transition to remote working. Some of these many benefits include:
  • Remote working solutions and giving freedom back to staff
  • Speed streamlined contact between internal departments
  • Boosting staff productivity - Smooth customer journey
  • Staff can now find any incoming mail waiting for them in a dedicated space on the SPS Lite platform - Saved mailroom workers the task of manually chasing up undelivered items
  • Digital delivery has ensured key documents aren’t missed, and customers continue to receive the level of service they had come to expect.
SPS’ solutions have proved such a success with the bank that plans are already in place to roll out a similar solution internationally, with talks ongoing and an implementation planned in the near future. Through digital mail, the bank has been helped to realise the potential for innovation across its traditional manual processes, and with businesses now embracing a more remote model, digital mail service is just the beginning.
 
To learn more about how SPS could improve your banking processes,
 

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