Wholesale Lockbox Provider Success Story

Skills-Based Training Improves Productivity

		Business Challenge Whether a conventional or image-enabled environment, remittance processing and lockbox operations depend on their front-line employees to perform with high levels of productivity and quality. In retail lockbox operations, efficiency is very important due to the large quantity of work that must be processed. Quality is a major concern in wholesale lockbox operations, because even the slightest error can be very costly, in terms of exceptions handling and customer-related impact. This certainly was the case at the three retail and wholesale lockbox processing sites for one of the largest U.S. banks. Looking to strengthen quality and productivity, and provide staff with timely performance feedback, the bank wanted to develop a formal, end-to-end training program focusing on data-entry skills, check and document recognition, and transactional processing.	Business Solution As a critical component of the bank’s new training program, EKG of South Carolina, Inc., was contracted to install a solution that leveraged a combination of knowledge-based lessons and skills-based simulators. EKG’s objective was to develop each trainee’s ability to operate efficiently and accurately. Based on EKG’s unique philosophy, [Content + Delivery] Motivation = Results, the computer-based learning program included self-paced modules to equip staff with the knowledge, skill, and stamina to perform all lockbox functions. Improved Productivity Having EKG’s solution in place, along with training components the client developed in-house, has helped the bank significantly improve productivity at its three processing sites. For example, average retail keying, measured in items per hour (IPH), doubled less than one year after the system was implemented. Average wholesale keying increased 269 percent, while average wholesale batching increased by 25 percent.
				Summary The Customer Networked retail/wholesale lockbox operations for one of the 10 largest U.S. financial institutions (in assets), and a high-volume lockbox provider. The Challenge Develop a formal staff-training program to increase productivity and improve quality. The Results Encoding errors were reduced by 45 percent Payee errors were reduced by 56 percent Average retail mail opening increased by 166 percent (measured in items per hour) Annual savings of more than $1 million in staff reductions Training program is a part of the new hire “boarding” process in lockbox operations ã2003 EKG of South Carolina. Printed in the United States. World rights reserved. Specifications subject to change. All prices are subject to change without notice. All product or company names may be trademarks or registered trademarks of their respective holders.
	EKG of South Carolina, Inc. P.O. Box 9097 Columbia, SC 29290 803-776-6242: phone 803-695-2924: fax www.ekgsc.com