Challenge

This major West Coast Regional Bank offers investment and insurance products through over 900 branches across multiple states. A small, internal team of system experts had successfully managed the bank’s IT through several years of growth. However, growth plus increased regulatory burdens soon posed challenges that required outside help. The Bank searched for a resource that could supply robust solutions to help handle rapid growth, complex commission structures, maintain compliance, and manage referrals. They selected EAI Information Systems.

In partnership with EAI, the Bank sought to: 

• Eliminate the overwhelming amount of manual time the client was spending on compliance.
• Integrate the collection of commission data from dozens of sources.
• Develop a streamlined referral process that leveraged all the bank’s information to gain investment customers and increase wallet share.

Solution & Results

Together, the Bank and EAI began customizing and implementing EAI modules for Compliance, Commissions, and Referral Management. The new modules allowed this large regional bank to:

• Improve Compliance
• Identify and automate all compliance red flags.
• Provide consistent, timely reporting and distribution
• Simplify Commissions
• Integrate over 35 daily commission-related feeds into the EAI Data Management Vault to support a multi-tier payout grid
• Consolidate multiple reports into a single report and customize for easy access and distribution
• Update Referrals
• Develop a defined, comprehensive, and scalable referral program.
• Integrate referral software into the bank’s back-end system