Case Study: BMO Wealth accelerates application processing with ARC Business Solutions' intelligent capture solution

BMO Wealth cuts application processing from 2 weeks to 2-4 hours with ARC Business Solutions

BMO Wealth Management, a wealth management group including BMO InvestorLine, faced challenges with high volumes of paper-based processes for online trading account applications. This resulted in slow processing times, manual and labor-intensive efforts, and high storage costs across multiple offices. ARC Business Solutions was engaged to implement a solution using OpenText Intelligent Capture technology to address these inefficiencies.

ARC Business Solutions designed and implemented a customizable document capture solution that automated the processing of both paper and web applications. This system used advanced capture software to trigger workflows, significantly accelerating processing and improving data accuracy and security. The results were substantial: application processing time was reduced from two weeks to just 2-4 hours, personnel and operational costs were decreased, and multiple branch operations were closed due to efficiency gains. ARC's solution also enhanced customer satisfaction by enabling automatic approvals for trading.

BMO Wealth