Stearns Bank streamlines loan processing with M-Files document management solution.

[Dave Feriancek – Vice President, Stearns
Bank] Steans Bank was founded in 1912, so we are a little over a 100 years old. We started
as a small county bank and have grown to about a $2 billion national association. Over an annual basis we probably process about
a 1000 loans each year. [Daren Lowe – V.P. of Information Tech, Stearns
Bank] Stearns Bank prior to M-Files was using a system called Alchemy by OpenText and that
system had become quite frankly kind of a mess. It was segregated into different databases.
There was inconsistencies in how documents were being indexed and it was creating a lot
of inefficiencies in our company. [Kurt Meemken – Manager of Software Solutions,
Marco, Inc.] Like many of our other customers, Stearns was having the need for workflow,
the ability to integrate with backend core systems and so M-Files was a perfect fit for
that opportunity. Prior to M-Files, many of our approval processes
that we went through to approve a loan were manual processes where people were literally
signing ink on a piece of paper and then passing that along via email having scanned that in
or walking around to different areas of our company. Where now that all be done electronically. [Jen Dingmann – Business Systems Analyst,
Stearns Bank] So having multiple locations across several states we want to make sure
that a loan office down in Florida has the same access to management as someone here
in St. Cloud. So having M-Files, everyone is looking at the exact same document and
the exact same loan file which makes if much more efficient for everybody. One of the key benefits of M-Files is that
it connects and integrates directly with FiServ and that provides a lot of efficiencies with
interacting with documents inside the system. The best parts about M-Files is that I can
configure everything myself as an admin and I don’t have to rely on IT or an outside company
to do that for us. Management can meet with me and want a workflow and five minutes later
I can have that turned around for them. I would say that the best benefit of M-Files
in my personal experience is ease of use. I mean to be able to use that information
and have it at your fingertips and to access it or transfer it to a customer instantaneously
has made my job a lot easier. From an IT perspective, M-Files has allowed
us to manage so much of the administration of it in-house and not have to pay a third-party
provider to do that. We definitely use the permissions for example
loan files are protected to just the loan department, accounts payable is blocked from
any department. So based on departments, we definitely use permissions. The future with M-Files will definitely help
us to process loans quicker which is definitely a win win for the customer and the bank.

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