Check Printing Assessment Saved a Retail Bank $3 Million Over 5 Years 

The Challenge

As a leading retail bank prepared for an essential migration to Windows 10, the organization faced a critical challenge: its existing check printing solution was incompatible with the new system. This incompatibility threatened to disrupt vital financial processes, potentially leading to increased inefficiencies and security vulnerabilities. Moreover, the bank's internal controls were not as robust as initially perceived, heightening the risk of internal fraud. Additional challenges included process breakdowns that impeded transaction speed, resulting in subpar customer service and a potential loss of clientele who could not afford delays.

The Solution

Recognizing the urgency and complexity of the situation, TROY Group partnered with the bank to conduct a comprehensive on-site audit. This expert evaluation identified key areas for improvement and laid the groundwork for a transformative solution. TROY implemented a cutting-edge check printing system compatible with Windows 10.

✅Personalized: An on-demand check printing process using blank check stock to increase security and reduce liability 

✅Consistency: Check numbering is done at time of issuance rather than pre-printed on the paper. 

✅Scalability: Allow for batch processing of multiple cashier's checks for customers who need multiple checks from the same account 

✅Digital First: Automate the signature process by deploying an electronic signature and/or remote authorization to release checks. 

The cost savings of over $3 million, coupled with enhanced customer service and reduced fraud risks, have reinforced our confidence in our financial operations. We couldn't be more satisfied with the impact on our bank's performance.

The Results

The implementation of TROY's tailored solution resulted in substantial benefits for the bank. Over five years, the bank realized savings exceeding $3.21 million. The new processes significantly decreased the risk of fraud and improved both transaction speed and customer service quality. By addressing the internal inefficiencies and strengthening security protocols, the bank not only optimized its operations but also restored trust and satisfaction among its customers. Consequently, TROY's solution effectively transformed the bank's check printing capabilities, reinforcing its position as a reliable and efficient financial institution.