Bank transformation through a digital mailroom makeover

Industry

Banking and financial services

Challenge

Transition mailroom operations and expand digital mailroom capabilities

Solution

Iron Mountain Intelligent Business Process Management (iBPM) service with Iron Mountain Digital Mailroom solution

Value

Reduce costs, errors, and inefficiencies with expert digital mailroom delivery, a seamless transition, and setting the foundation for continuous innovation.

Banks are document-centric organizations. Yet many banks still use manual processes to operate their mailrooms. That means volumes of mail rely on manual systems to track, sort, and deliver mail, with little to no digital capabilities. Manual processing is costly, time-intensive, and inherently error-prone. An innovative digital mailroom solution and site management can deliver better outcomes.

To tackle mailroom challenges head-on, one large multinational bank recently enlisted Iron Mountain to fully digitize, automate, and manage its mailrooms. The urgency was driven by the bank’s current mailroom solution provider exiting the market, leaving the bank without an alternative and necessitating a swift transition.

Fortunately, Iron Mountain’s Intelligent Business Process Management (iBPM) service utilized digital mailroom software technology and automated workflows for the large bank. Iron Mountain’s expertise and resources ensured a smooth deployment in a record amount of time, enabling the bank to expand and optimize its mailroom capabilities. Since implementing the managed service, the bank has reduced errors, costs, and inefficiencies while gaining a foundation for further innovation.

Crafting a seamless transition

Because the bank’s mailroom provider was exiting the market, the bank required an immediate transition to mitigate business risk. This meant the new mailroom solution was needed urgently before the bank’s mailroom operations came to a halt.

In addition, the bank required a seamless transition to the new mailroom solution without disrupting operations. Iron Mountain conducted customer-centric workshops and created a tailored implementation plan based on the bank’s needs. As a result, iBPM and Iron Mountain Digital Mailroom solution deployed without operational disruptions.

“Our mailroom needed to transition smoothly and continuously, so the new solution was ‘invisible’ to our customers, employees, and operations. Iron Mountain did just that, delivering a new solution that seamlessly transitioned our mailroom,” shared an executive at the large bank.

Providing expert mailroom delivery

The banking industry is inherently document-heavy. Beyond the volume of documents, banks must also process a large variety of document types, such as mortgage documents, checks, private wealth documents, and vouchers. The large bank needed a partner to handle the imaging and data capture of all these documents.

Iron Mountain stood out above the rest. Workflows were created to handle the bank’s diverse document types. Further, Iron Mountain’s deep expertise in the banking industry was a powerful proof point for the bank, removing risk, adding value, and providing peace of mind. With iBPM, including Digital Mailroom and operations management, over 30 million documents are processed, scanned, and captured by the bank each year.

“Proven experience was crucial for our new digital mailroom solution provider. With a tight timeline for the transition and a need to expand and more fully automate our solution, the stakes were high. Iron Mountain’s deep expertise and extensive experience clinched our decision, and we chose its iBPM services utilizing its Digital Mailroom solution. In hindsight, we made a wise and profitable choice,” shared the banking executive.

Establishing a future-forward vision

As we move into the hypercare phase of the like-for-like mailroom transition, Iron Mountain and the bank are focused on continuous innovation, including a future-forward vision for Digital Mailroom to ensure ongoing improvements. The bank recognizes Iron Mountain as a strategic innovation partner that could further transform and dynamically optimize mailroom operations to keep the bank on the cutting edge of innovation.

“In banking, as in most other industries, standing still means falling behind. We fully embrace Iron Mountain’s innovative approach to continuous improvement as vital to our bank’s future,” stated the bank’s executive. “Iron Mountain is addressing our internal and external needs, and we are thrilled with our Iron Mountain partnership.”

Many banks overlook the rich, untapped opportunity to digitize and automate document-intensive mailroom operations. Yet, digital mailroom solutions can reduce costs, errors, and inefficiencies to deliver better customer experiences and business outcomes today while helping prepare banks for tomorrow.

Learn more about Iron Mountain’s Intelligent Business Process Management service and Digital Mailroom.