Avrio Corporation Success Story

As one Australia’s leading financial institutions, Commonwealth Bank Group provides its over 10 million customers with a wide array of financial services from retail, to business and institutional banking, to superannuation and funds management, to general insurance and brokerage services. Within Australia, Commonwealth Bank Group is the market leader in home loans, personal loans, retail deposits, and discount investment products. Additionally, Commonwealth Bank Group is Australia's largest issuer of credit cards, providing its customers and retailers with the largest services distribution network and highest quality service available in the industry today.

The Problem

Commonwealth Bank’s Financial Services department processes annuities for millions of bank customers throughout Australia. Customers rely on the bank to provide quick and accurate answers to their investment questions. With the deluge of incoming documents and requests for information, the bank’s Financial Services department found it increasingly difficult to provide its customers with the timely service they deserved. After a thorough evaluation, Commonwealth Bank concluded that an integrated FileNet document capture and workflow system was needed to assist the Financial Services department in managing and storing documents electronically, automating the distribution of work assignments, enforcing bank policies and rules, streamlining manual processes and providing immediate access to both customer information and documents. To achieve these goals, Commonwealth Bank used Avrio Corporation and FileNet as systems integrators because of their extensive workflow design and implementation expertise.

The Solution

Avrio Corporation and FileNet® worked with the Commonwealth Bank team to develop the Financial Services Workflow System. Using the Financial Services Workflow System, incoming documents are scanned or captured by fax, then automatically indexed using a custom integration link to the legacy financial system. Once the document is stored, an electronic work item is created and automatically assigned to a staff member for processing. Work assignments are based on a user profile and rules-based workflow to ensure the person with the appropriate skill set handles the transaction.

The Financial Services Workflow System provides data entry clerks, examiners, underwriters and team leaders with a comprehensive suite of tools to process incoming work items, route information to other users, perform online calculations and evaluate electronic documents.  It also allows them to query a variety of Term, Superannuation and Investment products, as well as generate and track both outgoing correspondence and incoming responses. Supervisors and team leaders use the Financial Services Workflow System to monitor work assignments, re-assign work cases and to generate management and service-level performance reports.

For Commonwealth Bank Group’s customer service representatives, the Financial Services Workflow System provides immediate access to all documents in each client’s file, and has dramatically improved the speed in handling customer inquiries and problems. Also, when customer service representatives are unable to answer certain customer questions, they can create electronic requests for information and route questions to the appropriate team lead for immediate follow-up.