KeyCorp is an $84.4 billion financial services company supporting 906 full-service banking branches across 12 states. About two years ago, it embarked on an initiative to migrate away from its microfilm-based checking system to a more centralized imaging and document management system based on Mobius Management Systems’ ViewDirect.

"Our primary business requirement was to improve our competitive positioning by making customer service more convenient," says Allyn Pytel, senior vice president of media and output management at Key. "Our goals were to enhance the customer experience, improve sales performance, streamline operational processes and leverage the Internet as a delivery channel."

The new system does just that, he says. Instead of storing checks and statements on microfilm--an expensive, cumbersome solution--those documents are now scanned and indexed using the ViewDirect system. They then are compressed and migrated to virtual tape storage silos for easy access.

According to Mobius, ViewDirect lets customers integrate content from multiple, disparate repositories and deliver it via content-intensive applications. It includes features for digital asset and document management, workflow and imaging, Internet presentment and payment, records management and enterprise report distribution.

Pytel says that by using ViewDirect, the imaged documents are now available to customers for online viewing via KeyCorp’s secure Web site, a feat that has reaped the firm some pretty hefty efficiencies.

For example, since deploying ViewDirect early this year, more than 90,000 customers have decided to stop receiving paper statements and instead view them online.

"Customers who receive their statements electronically get them two to three days before those who continue to receive them by mail," he says. "But more important, they can bank when they want to bank, with 24-hour-a-day online access to 60 days of checks and 13 months of statement history."

In addition to getting information to customers faster, this push to online banking has eliminated the need for KeyCorp to print and mail more than 140,000 monthly retail statements. Plus, millions of pages of internal paper and microfiche have been eliminated, streamlining internal processes throughout the organization.

In fact, Key calculates its hard dollar savings at more than $12 million a year, primarily due to reduced mailing costs, tape storage consolidation and elimination of microfiche.

"We used to spend $92,000 a month on microfiche," Pytel says. "In January, our bill was $350."

Plus, processing check images through the clearing process in place of physical checks has the potential to save Key an incremental $10 million annually in physical transportation costs, he says.

Better yet, the system helps meet the financial firm’s internal document and regulatory compliance needs.

"We wanted to have just one electronic archive to support our requirements for regulatory compliance, internal operations and customer service," said David Harris, vice president and division manager at KeyCorp. "With the ViewDirect TCM integrated content repository as the cornerstone, we&singlequot;ve achieved that objective."

For more information, visit Mobius here.