HOUSTON – (COMMERCIAL THREAD) – Centennial Bank has partnered with FINBOA, a leading innovator in digital automation and regulatory compliance for financial institutions, to improve efficiency and reduce bank losses, improve the customer experience and empower employees through process automation.
As electronic payments and relentless fraudster attacks continued to grow, it was important for Arkansas-based Centennial Bank, with offices in Arkansas as well as Florida, Southern Alabama and New York City, to find a litigation tracking solution that would reduce the potential for compliance. failures and ease of use by a team of approximately 800 employees trained to submit cardholder complaints. In addition, the bank is always looking for ways to automate its manual processes. Seeking to improve their compliance with federal regulations and the efficiency of their operations, Centennial Bank selected FINBOA to monitor Reg E.
“We chose FINBOA because it is scalable and durable, and our staff can easily be trained to use it effectively,” said Kimberly Mantuano, head of online banking at Centennial Bank. “Because 100% of people cannot be accurate 100% of the time, we have to anticipate that they may not always be. Together with FINBOA’s automated solution, it not only improves upon our previous system, but is also customized to meet our exact needs. The solution exceeded our expectations and we are excited to automate more workflows with FINBOA in the future. ”
Using the use of Reg E calculators to reduce errors and save time, FINBOA’s Reg E litigation tracker reduces paper waste and improves efficiency through centralized document management, letter generation, automatic timeline notifications, digital forms and electronic signatures. By eliminating the manual handling of complaints and nonconformities, FINBOA dramatically reduces dispute handling time and improves the customer experience.
“By implementing our Reg E Dispute Tracking solution, Centennial Bank is able to eliminate the arduous steps required for compliance, making its operations smoother and more efficient,” said Raj Singal, CEO of FINBOA. “Our solutions are proven and accelerate delivery without sacrificing security or operability. FINBOA is dedicated to providing innovative solutions that strengthen the relationship between financial institutions, such as Centennial Bank, and their account holders, while improving back office efficiency.
About Centennial Bank
Centennial Bank, a Home Bancshares (NASDAQ: HOMB) company, is a full-service financial institution with branches in Florida, Arkansas, Alabama, and New York City and total assets of $ 15 billion. For more information, please visit www.my100bank.com. Centennial Bank, FDIC member, Equal Housing Lender.
FINBOA is a leading innovator in back office automation for community and regional banks and credit unions. Drawing on more than 30 years of experience, FINBOA has created solutions to reduce compliance costs and reputational risk by combining digital transformation, regulatory compliance, process automation and customer experience. Based in Houston, FINBOA engages in partnership with financial institutions across the United States to achieve targeted business results and peace of mind. To access Centennial Bank’s client success stories and learn more about FINBOA, request a demo, or register for the next monthly webinar, please visit www.finboa.com or follow us on LinkedIn, Facebook and Twitter.