CONTACT

1 Customer

  • Top 20 Commercial Bank offering retail & wholesale lockbox services

2 Business Situation

  • Bank’s inability to offer competitive pricing in lockbox
  • Could not meet guaranteed deadlines; inconsistent quality of service
  • Processing errors meant penalty payments to customers

3 Solutioning

  • SLK implemented standardized/ centralized workflow management ‘queues’
  • Suggested start with 29 FTEs, with remote transition

4 Execution

  • SLK took over the complete back-office lockbox operations
  • 125+ FTEs from 2 SLK locations
  • 20 million items per month
  • 300+ Bank lockbox customers
  • Took on 100% of the lockbox volumes in 4 months

5 Value Delivered

Improved quality levels
  • From 4.7 to 5.74 sigma at SLK (99.9986%) in Retail lockbox
  • From 4.0 to 5.62 Sigma at SLK (99.9979%) in Wholesale lockbox
Met guaranteed turn time (15 min to 2 hours)
Bank’s fixed costs converted to variable costs; daily & seasonal volume fluctuations handled

I wanted to reiterate my appreciation for your team. Great example of SLK’s commitment to go above and beyond to ensure volumes are processed timely and to a high level of quality.

Manager - Check Services

Need more information about our solutions?
Connect with us today!