Case Study: a large U.S. bank saves $11M annually with Conduent lockbox automation

Large-scale transformation of Payment Processing Services saves client $11M annua

A large U.S. bank sought to reduce costs by outsourcing its wholesale and retail lockbox payment processing operations. The challenge was to find a partner with proven experience in managing a large-scale business process outsourcing transition while ensuring a smooth experience for both employees and customers. They selected Conduent as their vendor.

Conduent implemented its Lockbox automation platform and developed a multi-year transition strategy using Agile methodology. Their approach included rebadging over 100 experienced employees to retain institutional knowledge. This solution enabled the full transition of operations within 60 days, resulting in annual savings of $11 million for the bank and significantly improved operational speed and efficiencies.