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Client story

Leading bank saves over 27,000 hours by digitising loan notice processing with Xceptor

About Client

A large bank in the US specialising in banking and asset management services, serving individuals, businesses, and larger institutions. Many thousands of employees.

 

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Story Snapshot

  • arrow-puple 220% return on investment, with over $1 million in FTE savings and efficiency gains 
  • arrow-puple End-to-end automation of all loan notices
  • arrow-puple Improved productivity and employee satisfaction
  • arrow-puple $1.3 million operational savings per year

Challenge

A leading bank in the US, specialising in banking and asset management services, faced implementation challenges within its Fund Services division. The client received approximately 65,000 loan notices per year from a range of agent bank providers (Alter Domus, WSO, Loan IQ), each arriving via email to multiple inboxes and in varying formats.

Data was then manually handled by 10 – 15 team members (FTE): reviewing loan notices, tagging and sorting relevant information, and manually keying this into internal systems. Processing each document took approximately 30 minutes, translating into costs of $1.3 million a year. 

Automate Loan Notice Management

Digitise loan notice processing no matter how complex the data

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Automating the loan notice management process while maintaining control

To overcome these challenges, the bank implemented Xceptor’s Data Automation Platform to automate the ingestion, classification, extraction, and reconciliation of loan notice data.  

Xceptor provided the Bank with a streamlined, end-to-end solution, transforming all loan notices from agents to a fully automated process. This, coupled with Xceptor’s ability to create a staged dataset that processed loan notices before they moved into their internal system, ensured only clean, accurate data entered the downstream systems.  

The platform allowed the bank to implement specific validation rules, and maker-checker workflows. This enhanced process governance, and auditability. These were implemented in tandem with a broader human-in-the-loop workstream to remediate low confidence score extractions.

Vector

Take control of all your inbound and outbound confirmations processes in a single workflow.

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Ingest data, produce documentation, escalate risks, and manage the indexing and return of confirmations in one standardised workflow across your entire business.

Vector3

Integrate all trade booking platforms, market utilities and resolution portals.

A market leader in confirmations processing, Xceptor is trusted by some of the largest global financial institutions.

Life with Xceptor

GearSix
Time Savings & Efficiency:
  • Manual processing time per notice dropped from 30 to 5 minutes, a 6x throughput improvement.
  • The need to manually tag and sort notices into processing buckets was fully eliminated. 
GearSix
Enhanced Remediation & Accuracy:
  • The introduction of validation rules and confidence thresholds allowed the Bank to implement controlled exception handling, ensuring review of lower-confidence fields.
  • The audit trail and workflow governance dramatically reduced the risk of operational breaks or unreviewed exceptions. 
GearSix
Employee Satisfaction & Savings:
  • The shift away from repetitive data entry to more analytical and oversight functions improved overall job satisfaction.
  • Saving of $1.083 million in labour costs, reducing annual cost to $217,000. 

 

GearSix
Business Impact:
  • The Bank’s new capabilities helped to retain key clients, where operational scalability and timeliness were critical.
  • The solution demonstrated the Bank’s ability to meet growing fund activity and volumes without a linear increase in headcount.
  • 220% return on investment, recovering the initial investment in Xceptor in four months, realising $1 million+ in FTE savings and efficiency gains.  

Ready to streamline loan operations?

Find out how data and workflow automation can help you handle large volumes of complex loan notices with speed and accuracy.

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