successes
Republic Bancorp Implements Paperless Processes, Improving Customer Service and Bottom Line
Who:
Republic Bancorp Inc., Michigan’s third largest bank holding company with $6.1 billion in assets
What:
Uses eLynx’ WPS (Web Posting Service) for secure, accelerated loan document delivery
When:
Republic Bancorp signed on with eLynx in August 2004
Why:
The bank selected eLynx because of eLynx’ reputation as an industry leader in providing secure electronic document management solutions. Full implementation was completed in less than three months, since WPS integrated easily with its existing loan origination system (LOS).
How:
"eLynx’ technology has the capability to grow into other areas of our business, in addition to the benefits achieved when delivering closing mortgage packages," said Greg Bixby, senior vice president and chief information officer for Republic Bancorp. "We have already seen a reduction in our mortgage closing costs and timeframes, while simultaneously improving the high level of service and attention our customers deserve. In addition, WPS is easily integrated into systems, independent of our mortgage application/Fiserv system. Looking at the long-term big picture, eLynx’ technology solutions have the ability to drive our company, along with the mortgage industry, into a secure, efficient and complete paperless business process.”
About Republic Bancorp.
Republic Bank was founded in 1985 and specializes in providing distinctive personal service to our customers and building lasting relationships. With $6.1 billion in assets, we are the 3rd largest bank holding company headquartered in Michigan and 80th largest bank holding company in the country. Republic Bancorp creates additional value for its shareholders while maintaining a quality-conscious organization that is focused on exceeding customer expectations.
Republic maintains a focused business strategy along its core business lines of Commercial Banking, Retail Banking and Mortgage Banking and through its subsidiary, Republic Bank, serves customers in Michigan, Ohio and Indiana with 95 offices. In 2005, Republic was named the 3rd Best Company to Work For by Fortune magazine.
About eLynx
Cincinnati-based eLynx, Ltd. Is a leading provider of secure electronic information management solutions and services for the financial industry. The company delivers soft-paperä technology that transforms costly paper-intensive processes into secure electronic solutions that save time and money. eLynx provides effective and customized solutions to deliver streamlined processes that fully integrate with a company’s existing business systems. In 2003 it introduced the now acclaimed uSign™, the first service to provide borrowers with the ability to review and approve loan documents electronically. Today, eLynx customers include 14 of the nation’s top twenty lenders and account for more than 35 percent of all mortgage transactions. Last year, the company electronically processed nearly 25 million secure transactions.