Banco de Bogota Standardizes Document Access Across 275 Branches
Founded in 1870, Banco de Bogota was the first financial institution in Colombia. Initially, it had the authority to print Columbian currency, but by 1923, it had introduced consumer products such as savings accounts. Today, Banco de Bogota is one of the largest and most influential financial entities in Colombia with $2.9 billion in assets and 275 branches in Columbia and abroad. Banco de Bogota's corporate standing and high level of customer service make it one of the leading banks in the country. In 2003, it was ranked #43 on America Economia magazine's top 500 list of Latin American banks.
To maintain its leadership in the industry, Banco de Bogota decided to adopt integrated document management as a means of increasing efficiency. The bank's goal was to manage every document type in an integrated system, making information readily available to multiple users. It also wanted to automate the process of gathering information, reduce document retrieval times, and provide faster customer service.
Banco de Bogota selected OnBase integrated document management software from Hyland Software, Inc. for its ability to meet all of these criteria. The bank worked with Tecnoimagenes S.A., an authorized OnBase reseller in Colombia, to create a solution that integrates COLD/ERM, Document Imaging, EDM Services, and the OnBase Web Server. To optimize image capture, the bank has also integrated software from Kofax Image Products, Inc. Tecnoimagenes built this integration for Banco de Bogota on a 150+ GB disk array. Data is stored in an Oracle 8i database operating on Microsoft Windows 2000. All backup data is stored on DVD.
More than 500 Banco de Bogota employees access OnBase on a daily basis for all their operations. Users at each of the bank's 275 branches access the system to answer customer inquiries. OnBase is used in the following departments: Record Keeping, Accounting, Reports, Statements, Customer Service, Comptroller, Technology Management; Security and Electronic Banking. "OnBase is a very flexible and friendly tool that allows us to easily integrate different documents and improve our internal processes and gain more control over our information," says Irma Soraya Silva Guzman, Organizational Management at Banco de Bogota
Productivity increases have been realized in a variety of areas as a result of internal process improvements, resulting in cost savings. The administration of accounting, listing, and customer files is managed more efficiently. The amount of time required to provide information to internal and external customers is significantly reduced. Because workers can complete their work more quickly, the bank is conducting more business in a shorter period of time. Despite the high availability of the system, information is much more secure because administrators have greater control over who accesses information.
The OnBase solution has also reduced the demand on physical resources. Annual savings as a result of the solution are estimated at $140,000. In the future, Banco de Bogota plans to use the OnBase solution to allow customers to access account information via the Internet.