Apps Shorten Tasks from Days to Minutes at The Provident Bank

Provident BankBy Stephanie Thomas, AVP, Deposit Operations, The Provident Bank

Does today’s new technology save banks time? That has been the promise since computers were introduced to bankers nearly 50 years ago. At the Provident Bank in Amesbury, Massachusetts, that promise is real.

The app technology from COCC has reduced the time needed to perform key banking functions from days to minutes. The apps literally plug into our core processing platform, a process that simplifies deployment and opens a new market for innovative solutions that help banks reduce cost and strengthen customer service.

Apps in use at The Provident Bank are as simple as a screen for staff to report customer conversations or as complex as an automation tool that can reassign hundreds of loan accounts from one loan officer to another.

One of our apps – Overdraft Research – gives us the information we need to explain a customer’s overdraft situation in seconds. Prior to using the Overdraft Research app, we might have spent half an hour on research – and what customer wants to wait for that or for a callback? Employees love the ability to respond while the customer is still on the phone.

We can make wholesale changes to user fields, update or remove mail restrictions and inquire on any employee’s level of access to a particular screen or transaction. We can even pull data from the online system for use on our desktops. Our tellers use this capability to reconcile journal errors since they can sort the data by person, amount, account number, and more. All are tremendous time savers for The Provident Bank.

Accessing the app technology is easy – we shopped for them online, tried them for free and implemented them soon after. From day one, each app was fully integrated into the bank’s online system and ready to use.

The beauty of app technology is that each app is separate from the core platform. This eliminates the need for stringent regression testing every time a change is made and dramatically accelerates the delivery of new functionality. It also opens the door to continuing development by third-party developers. There are more than 200 apps available to us today.

Thanks to apps, The Provident Bank has experienced a steady stream of improvements in efficiency and customer service. Since older core processing systems are unable to deploy advanced app technology, we are especially pleased with our partnership with COCC, which embraced app technology early on and has made it a driving force in delivering new functionality for The Provident Bank.