BOK Financial Saves Millions of Dollars A Year with Paperless Check Processing
Customer Company Size
Large Corporate
Region
- America
Country
- United States
Product
- webMethods Enterprise Service Bus
Tech Stack
- webMethods ESB Platform
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Productivity Improvements
Technology Category
- Application Infrastructure & Middleware - API Integration & Management
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Use Cases
- Process Control & Optimization
Services
- System Integration
About The Customer
BOK Financial Corporation (BOKF) is a $23 billion regional financial services company based in Tulsa, Oklahoma, where it leads the state in consumer and commercial banking. BOKF has full-service banks in eight states. Assets are centered in seven bank subsidiaries: Bank of Oklahoma, Bank of Texas, Bank of Albuquerque, Bank of Arkansas, Bank of Arizona, Colorado State Bank and Trust and Bank of Kansas City. The company has a single IT organization that serves BOKF operations across eight states and has a history of producing innovative cost-saving solutions that deliver exceptional customer service.
The Challenge
The Check Clearing for the 21st Century Act became U.S. law in 2004 so banks could process more checks electronically. Before this act, banks had to physically transport paper checks from where they were deposited to the bank that paid them. Now, instead, banks can process checks faster and more efficiently using digital images. BOK Financial saw this as a business opportunity to gain efficiency. However, the process of integrating the digital check processing system was complex due to the numerous back-end operational systems involved in depositing, validating, and handling errors and closed accounts.
The Solution
BOK Financial built an innovative Check 21 processing engine using Software AG’s webMethods Enterprise Service Bus (ESB) Platform. For the greatest possible efficiency, the Check 21 engine centralizes the processing of check images from locations across eight states. The engine also helps the bank launch new competitive services faster, such as accepting scanned check images from commercial customers. The webMethods ESB Platform made a potentially difficult integration easier. With the webMethods ESB Platform, remote branches securely send in a digital file of all the checks they’ve received that day. That evening, the Check 21 engine ingests hundreds of thousands of checks, which are then processed all the way through the system.
Operational Impact
Quantitative Benefit
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