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Bank of AmericaBank of America

Libris InformationLibris InformationSolutionsSolutions

August 7-10, 2005

Document Processingpresented at

FTA Technology Conference

Columbus, OH

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OverviewOverview

• Objective:– Provide a Brief Overview of the Business Case Drivers for Streamlined Data

Capture and Data Harvesting Strategies.

• Topics:– Who Is Libris?

– Typical Benefits and Results of a Successful Program

– Streamlining Document Processing − Key Program Opportunities and BusinessDrivers:

• Forms Redesign

• Document Imaging and Data Harvesting

• Integrated Image and Data Management

• Data Verification and Rules Deployment

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Who Is Libris?Who Is Libris?

• Industry Leader in High-Volume, Complex Processing

• Division of Bank of America’s Global Treasury Services Group

• A Partner for Government

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Typical Results of a Successful ProgramTypical Results of a Successful Program

• Lower Processing Costs

• Higher Accuracy

• More Efficient Processes

• High Standards of Data Security and Confidentiality

• Enhanced Customer Satisfaction

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Streamlining Document Processing Streamlining Document Processing −−Key Program Opportunities and Business DriversKey Program Opportunities and Business Drivers

Business Drivers:

• Lower Processing Costs

• Higher Accuracy

• More Efficient Processes

• High Standards of DataSecurity and Confidentiality

• Enhanced CustomerSatisfaction

Program Opportunities:1. Forms Re-design2. Imaging and Data Harvesting3. Integrated Image

Management Platform4. Data Verification

and Rule Deployment5. Image Archive

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Forms RedesignForms Redesign−Paper Forms−Web-Enabled Forms−Internet Filing

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Forms Redesign Forms Redesign ––Paper Forms (Overview)Paper Forms (Overview)

• Forms Design Is the Key to Efficient Document Processing.

• Robust Forms Design Enables:– More Automated Data Capture

– Higher Success Rates for Automated Data Capture

– Less Manual Data Capture

– Less Overall Processing Time

– Lower Overall Costs

• Forms Design Facilitates Image-Based Processing Workflows thatInclude:– Image Scanning and Data Harvesting

– Integrated, Image-Based Processing

– Adjudication through Automated Data Verification and Rules

– Efficient Image Archive and Retrieval Systems

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Forms Redesign Forms Redesign ––Paper Forms (Benefits)Paper Forms (Benefits)

• Benefits of Redesigning Paper Forms Include:– Lower Overall Program Costs

– Higher Success Rate for Automated Data Capture

– Less Reliance on Manual Data Capture

– Higher Data Capture Accuracy Overall

– Lower Cost to Process Forms

– Lower Cost to Develop New Forms

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Forms Redesign Forms Redesign ––Paper Forms (Example)Paper Forms (Example)

A Redesigned Form:(individual componentsdiscussed in the followingpages)

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Forms Redesign Forms Redesign ––Paper Forms (Example)Paper Forms (Example)

1. 1D Barcodes for Form Identification −Accelerates processing by enabling automated recognition of formtype and other critical information:– Form Number

– Form Version

– Form Date

– Vendor

2. Increase Field and Character Spacing − Improves data capture ratefor handwritten forms

3. Maintain Registration Marks − Provides simpler means for humanoperators to distinguish between forms– Form Version

– Form Date

– Vendor

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Forms Redesign Forms Redesign ––Paper Forms (Example)Paper Forms (Example)

4. Mark Sense Signature Boxes − Enables systematic detection of signatures

5. Improved Check Box Layout − Facilitates automated data capture usingmark sense

6. Add Special Condition Check Box − Enables automatic, rules-based routingof forms based on special conditions (such as “Name And Address Change”)

7. Improve Character Box Spacing and Field Format for ICR − Improves therate of automated data capture

8. Use Consistent Drop-out Form Color − Improves the rate of automated datacapture

9. Standard Form Size − Enhances efficiency by reducing the risk of paperjams at the scanner

10. Allow for 2D Barcode On Every Form − Enables the highest efficiency ofdata capture (discussed further in the next section)

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Forms Redesign Forms Redesign ––Web-Enabled Forms (Overview)Web-Enabled Forms (Overview)

• With Web-Enabled Forms, Your Customers Can:– Complete Forms via a Convenient Website

– Print Forms from their Home Computer

• Web-Enabled Forms Facilitate the Following Program Efficiencies:– More Automated Data Capture via:

• Barcodes (1D and 2D)

• Intelligent Character Recognition

• Machine Print

– More Accurate Data via• Rules that Ensure Completeness and Accuracy

• Less Handwriting

• Less Reliance on Manual Data Capture

– Pre-Payment Options that Improve the Client Experience as Well as Cash Flow

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Forms Redesign Forms Redesign ––Web-Enabled Forms (Overview)Web-Enabled Forms (Overview)

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Forms Redesign Forms Redesign ––Web-Enabled Forms (Benefits)Web-Enabled Forms (Benefits)

• Benefits of Web-Enabled Forms Include:– Lower Overall Program Costs

– Higher Success Rate for Automated Data Capture

– Less Reliance on Manual Data Capture

– Built-in Rules and Edits that Limit Submission Errors

– Higher Data Capture Accuracy Overall

– Improved Cash Flow through Convenient Pre-Payment Options

– Enhanced Client Experience

– Higher Levels of Security and Confidentiality

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Forms Redesign Forms Redesign ––Internet Filing (Overview)Internet Filing (Overview)

• By Filing Forms Online, Your Customers Can:– Conveniently Submit a Form Online– Pre-Pay via Credit, Debit, or ACH– Enjoy Faster Turnaround Time and Greater Convenience

• Internet Filing Enables the Following Program Efficiencies:– Less Cost Associated with Paper-Based Processing:

• Printing• Shipping• Processing• Storing• Destroying

– Built-in Rules Prevent Data Entry Errors before They Can Occur– Submitters do not need to provide original documents or signatures

• In some cases, e-authentication may be used to replace a handwritten signature witha digital signature.

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Forms Redesign Forms Redesign ––Internet Filing (Benefits)Internet Filing (Benefits)

• Internet Filing Provides the Following Benefits:– Higher Customer Satisfaction through:

• More Convenient Access

• Less Hassle

• Quicker Turnaround Time

– Lower Overall Program Costs

– More Accurate Data

– More Efficient Processes

– Higher Levels of Security and Confidentiality

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Document Imaging and Data HarvestingDocument Imaging and Data Harvesting

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Document Imaging and Data Harvesting (Overview)Document Imaging and Data Harvesting (Overview)

• Effective Document Imaging Consists of:– Document Preparation and Batching

– Document Scanning

– Document Repair

• An Effective Imaging Strategy Enables anImage-Based Processing Workflow.

• Data Harvesting Consists of:– Automated Data Capture

• 1D/2D Barcodes

• ICR

– Manual Data Keying

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Document Imaging and Data Harvesting (Benefits)Document Imaging and Data Harvesting (Benefits)

• Benefits of Document Imaging and Data Harvesting Include:– More Rapid, Automated Data Capture

– More Efficient, Image-Based Workflow

• Compared to a Key-from-Paper Approach, Imaging Provides:– Lower Overall Processing Costs

– Increased Accuracy

– Increased Efficiency

– Greater Security and Confidentiality

– Faster Turnaround Time

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Integrated Image and Data ManagementIntegrated Image and Data Management

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Integrated Image and Data Management (Overview)Integrated Image and Data Management (Overview)

• What Is Integrated Image and Data Management?– An Integrated System for Managing Image-Based Document Processing

– A Centralized Computing Infrastructure

– Form Template Management

– Rule Management for Data Validation and Adjudication

– Data Integration

– Reporting and File Creation (Outgoing Data and Images)

– Image Archive

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Integrated Image and Data Management (Overview)Integrated Image and Data Management (Overview)

Form

IdentificationScan Repair Data Capture

Data

Verification

Document

Adjudication

WorkFlowDocument

Builder

Inventory

Management

Inquiry

Scanned

Paper

Inputs

Web

Inputs

Electronic

Media

Customer

Data

Files

Reports

Paper

Financial

Data

Complete-

ness Rules

Inventory

Tracking

Verification

Rules

Routing

Rules

Administrative Applications

FormID

Template

Builder

ICR Template

Builder

Data Export

Mapper

Report

Designer

Core Applications

Audit/

Perform-

ance

Logging

Images

Bank of

America

Operations

Client

Operations

Client

CustomersClient Audit

Users/Interface

InputsOutputs/Storage

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Integrated Image and Data ManagementIntegrated Image and Data Management(Capabilities)(Capabilities)

• Integrated Document Processing

• Document Templates (Number, Version, Data, Vendor)

• Data Capture

• Data Verification Rules by Template

• Rule Repair Data Capture

• Logic for Rule-Based, Automated Adjudication

• Customer Adjudication Queues

• Remote Customer Adjudication Queues

• Submitter Notifications

• Integrated Data from Multiple Inputs (Web, Paper, Electronic)

• Reporting, File Transmission, and Image Archive

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Verification and RulesVerification and Rules

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Verification and Rules (Overview)Verification and Rules (Overview)

• A System to Maximize the Accuracy of Data and Eliminate Errors

• Three Major Components:– Data Verification

– Document Adjudication

– Client Repair Queue

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Verification and Rules (Overview)Verification and Rules (Overview)

Data Verification is a System to Weed Out Errors.

• Types of Errors:– Data Capture Errors

– Submission Errors

• How Does Data Verification Work?– System Analyzes Data from a Scanned Document Based on Pre-Set Rules:

• Rules are developed in close collaboration with customer.

• Rules must be developed in a manner that allows them to be coded, tested, andimplemented quickly

• Rules allow for dependable verification of data without the need to re-key information.

– Documents that Fail the Rules Are Passed to a Rule Repair Application.• Data Capture Errors: Forwarded to an Operator and Corrected

• Submission Errors: Forwarded to a Document Adjudication Queue

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Verification and Rules (Overview)Verification and Rules (Overview)

Document Adjudication Is a System to Correct Submission Errors.

• Two Types of Submission Errors:– Errors the Operator Can Correct

– Errors Requiring Client Adjudication.

• How Does Document Adjudication Work?– Operator Corrects All Possible Errors

– Upon Correcting an Error, the System Verifies the Data to Ensure the Operator’sChange Is Appropriate.

– Once all errors are corrected and the document certified, it will flow through thenormal transmission process

– If Documents Have Errors Requiring Client Adjudication, They Are Routed to theCustomer Repair Queue.

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Verification and Rules (Overview)Verification and Rules (Overview)

Customer Repair Queue is a System Allowing a Client to ResolveSubmission Errors.

• An operator at the client site has the ability to view document images

• Upon Correcting an Error, the System Verifies the Data to Ensure theOperator’s Change Is Appropriate.

• Once all errors are corrected and the document certified, it will flowthrough the normal transmission process

• If a Submission Errors Cannot Be Corrected, the Submitter Is Notifiedvia an Automated Notification Process.

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Verification and Rules (Benefits)Verification and Rules (Benefits)

• Benefits of Verification and Rules Include:– Higher Data Accuracy

– Less Cost to Harvest Data

– Streamlined Process for Resolving Discrepancies

– Increases Data Quality, Usually without Customer Intervention

– Notification Capability Informs Submitters of Uncorrectable Submission Errors

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Image ArchiveImage Archive

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Image Archive (Overview)Image Archive (Overview)

• Enhances customer service through fast single source archive

• Facilitates use of document images concurrently by multiple users andmultiple teams

• Exception data can be reviewed from source document quickly on-line

• Significantly reduces cost of retrieving aged paper documents

• Reduces paper storage cost

• Paper documents may be stored for a period of time

• Paper documents may be destroyed after images are verified

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Document Processing SummaryDocument Processing Summary

Prototype of an Image-Based DocumentProcessing Application

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Document Processing SummaryDocument Processing Summary

Business Drivers

• Lower Processing Costs

• Higher Accuracy

• More Efficient Processes

• High Standards of DataSecurity and Confidentiality

• Enhanced CustomerSatisfaction

Program Opportunities• Forms Re-design• Imaging and Data

Harvesting• Integrated Image and

Data ManagementPlatform

• Data Verificationand Rule Deployment

• Image Archive

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Document Processing SummaryDocument Processing Summary

Technology Deployed

Percentage of Automated Data

Capture (%)

Web-Based Submission

100%

2D Bar Code or Identifier

99%

Machine Print (Web Initiated)

85%+

Hand Print (From Redesigned

Documents)

55%+

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Eddy Whichard, SVP

Bank of America

Tax and Document Processing Consulting Group Leader

804-462-0248

For Additional Information, Contact:For Additional Information, Contact:

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