Banking Digital Fintech News

Oconee State Bank Taps FINBOA to Automate Back-Office Workflows

Oconee State Bank Taps FINBOA to Automate Back-Office Workflows

Oconee State Bank has partnered with FINBOA, a leading innovator in digital automation and regulatory compliance for financial institutions, to empower their back-office workforce with end-to-end automation that digitizes time-consuming workflows.

Read More: Curioinvest Launches Capital Dex, the Decentralized Exchange Primarily For Security Tokens

As the COVID-19 outbreak disrupted day-to-day banking and compliance operations, Oconee State Bank was prepared to accept, track and manage disputed claims remotely. By implementing FINBOA’s Regulation E Dispute Tracking SaaS solution, the bank was able to effectively manage a rising number of claims, eliminate paper-based processes, avoid complicated audits and overcome the challenge of staff training. In addition, Oconee State Bank’s use of process automation offered customers an end-to-end digital experience while eliminating the manual systems that can cause regulatory deficiencies.

By automating Reg E Dispute Tracking, SBA|PPP Loan Applications, CIP Exception Tracking and many more workflows, FINBOA’s back-office solutions help banks and credit unions reduce cost, financial loss and reputation damage. In addition, FINBOA’s modular framework transforms managing complex processes with simple, rule-based, one-click automations that eliminate the need to re-key data, saving hours of valuable time.

Read More: GlobalFintechSeries Interview with Joe Ehrhardt, CEO & Founder at Teslar Software

“Because of FINBOA’s cloud-based solution, we were prepared for the transition to remote work after the onset of the pandemic,” said Jennifer Rudd, AVP, Business Services Manager of Oconee State Bank. “With FINBOA, employees are able to efficiently complete tasks and focus their skills without complicated, manual processes slowing them down. By receiving documents digitally through FINBOA’s solution, Oconee State Bank was able to reduce the amount of time it took to file consumer disputes by more than 80%.”

“Through this partnership, we are able to help them streamline arduous steps required for compliance and other workflows with a SaaS-based process automation platform,” said Raj Singal, VP of FINBOA. “By bringing together digital transformation, regulatory compliance, robotic process automation and customer experience, FINBOA continues to provide financial institutions, like Oconee State Bank, with tools that improve operational efficiency and centralize document management.”

Read More:  Why Application-Layer Security Is The Future Of Fintech

Related posts

PitchBook Releases Custom Benchmarks Feature to Help Clients Better Evaluate Fund Performance

Fintech News Desk

AIB Pledges €1.25m to Fund Chair of Sustainable Business in Ireland at University College Cork

Fintech News Desk

Bank of England Convenes Members of the Public and Businesses to Join the Climate Change Debate

Fintech News Desk