The Greater Building Society
Posted: 18.02.09 | Created by: Do Something
At a glance
- the Greater Building Society, one of the largest Building Societies in Australia, is listed as number 151 in the Top 500 Private Companies in Australia according to 2008 BRW Magazine
- they are required by law to retain Member signed withdrawal forms, but a failure in the equipment, costly repairs and a lack of storage space, prompted the need to move to newer technologies
- after ample research, the Society decided to proceed with the Redmap Document Capture and Management product suite
- the Society now has two 90 page per minute scanners running up to eight hours a day giving an indication as to the huge volumes of documents being processed
- the results include easier access to member signed withdrawal forms and backing up offsite.
Company Profile
The Greater Building Society, one of the largest Building Societies in Australia, is listed as number 151 in the Top 500 Private Companies in Australia according to 2008 BRW Magazine. Approving $1.332 billion in loans during the 2003/2004 financial year was the most successful in the Society’s 59-year history.
With 60 branches throughout NSW and QLD, the Society is committed to providing the most comprehensive range of competitive savings, investment and loan products to over quarter of a million members.
The challenge
The Society is required by law to retain Member signed withdrawal forms for a minimum of seven years.
For several years, the forms were Micro-filmed. A failure in the equipment, costly repairs and lack of storage space, prompted the need for newer technologies.
The key requirements of a new system included:
- the ability to digitally image 1.8 million + A5 pages per year
- fast retrieval and compact storage
- an off line DVD archiving system to meet seven year compliance regulations.
‘Paper-Less’ strategy
After extensive research, the Society decided to proceed with the Redmap Document Capture and Management product suite to achieve its objectives:
- the new Canon DR 9080 90-page per minute document scanner was combined with customised workflow
- A5 size Member Signed withdrawal slips are scanned with the Canon scanner in duplex mode at 300 DPI to ensure high quality reproduction of handwriting and signatures
- CapturePoint software reads the account number from the slip
- data is then verified, using a checksum algorithm, to validate the account number.
‘Paper-Less’ solution
Now, staff at the Society:
- only need to manually verify account numbers that do not match the checksum when the software believes they are not read at 99% accuracy
- are able to correct invalid account numbers viewing the original on screen
- export images to a ManageEzy library and store under Account number, Batch Date, and Document Type
- key dates in the group field on the batch creation screen in CapturePoint.
Every month, these images are archived onto DVD for offline storage.
The Society now has two 90 page a minute scanners running up to eight hours a day giving an indication as to the huge volumes of documents being processed.
'Paper-Less' results
- the Redmap system has been operational since April 2004 and has provided a peak performance of 30,000 pages imaged and archived a day
- Member Signed withdrawal forms can now be found instantly at the click of a button
- Redmap solutions enable the Society to comply with document retention laws and allow for these documents to be backed up offsite
- reduced maintenance costs of equipment.
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