Case Study: Top Consumer Bank saves 75,000 hours with Epiq Premium Data

Epiq Bankruptcy Saves 75,000 Hours for Top Five Bank

The customer, a top consumer bank, faced the challenge of updating its records to comply with CFPB regulations, a process that required an immense number of manual hours to review court-filed bankruptcy documents. To increase efficiency, the bank partnered with vendor Epiq and its AACER Premium Data solution to automate this data extraction.

Epiq's solution automatically identified and lifted the required data fields from 750,000 documents, delivering structured data results. This approach saved the bank over 75,000 hours of senior-level manual labor, allowed for the reallocation of work, and enabled CFPB compliance to be completed in weeks instead of months. The bank also gained the added benefit of a reusable data set for future needs, eliminating further manual review.