1180 — Northern Rock implements FINEOS banking solution

Apr 1, 2004 | Conteúdos Em Ingles

FINEOS Corporation has announced that Northern Rock, a UK mortgage bank, is implementing its enterprise-wide imaging and business process automation product solution, FINEOS Banking Front Office. Building on a successful five-year relationship between the two companies, the deal sees the FINEOS Banking solution being deployed in Northern Rock’s entire credit and savings divisions. The bank has been using an earlier version of FINEOS’s CRM product for sales opportunity management since 1998 in Northern Rock Direct, its telephone-based sales operation. This new project is focused on introducing a straight-through process for the bank’s new business and administration processes.

Phase One, which has gone live, enables documents – such as application forms, letters, etc. – to be scanned, indexed and intelligently routed with appropriate tasks to the bank’s corporate-wide administration and sales staff. Given the massive volumes of documentation the bank processes daily, and the time typically lost in document retrieval and hand-offs, it will reduce manual intervention as well as physical storage overheads.

For Phase Two of the project, the bank has begun to implement highly sophisticated business process automation. Using the FINEOS Process Composer, Northern Rock will be able to define and update business processes, embed auto-decisions and ensure adherence to consistent process rules. As part of this workflow process, electronic forms will enable the bank to securely capture, store and retrieve structured data, and automatically route tasks accordingly. By automating leads handling, work management and routing in this manner, it will ensure that sales opportunities are distributed and managed effectively.