nelnet kofax transform 2015 v3
TRANSCRIPT
Streamlining Student Lending: Exception Processing Made Easy With Kofax
• Mike Randash, Executive Director – Nelnet
@mrandash mikerandash email: [email protected]
• Greg Gentry, Systems Architect - Nelnet
Nelnet’s Mission
Making Educational Dreams Possible
Approximately 3,000 employees
Headquartered in Lincoln, NE
Major offices in Omaha, NE and Denver, CO
NDS Serving over 10 million students or student loan borrowers
NNI on the NYSE
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What We Do At Nelnet
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NBS:Payment
Processing
1.5 million
families
NES:Education
Planning
6 million
students
NDS:Loan Servicing
10+ million
borrowers
Asset Mgmt.$24 billion
Servicing Loans For The U.S. Department of Education
Nelnet has been servicing student loans for
over 30 years
Servicer for DOE under current student loan program
Providing customer-focused, high-quality loan servicing
Process-based efficient business operations
Experience technology team
Software provider for other student loan organizations
Implementing efficient processes for large volume
customer service focused transactions
over
Kofax at Nelnet – A Long and Trusted Relationship
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How Long Using Kofax Software? Over 20 years!
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How Long Using Kofax Software? Over 20 years!
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Is it
true that
showing a baby
increases audience
satisfaction during
presentations?
Kofax Software Size and Architecture
Distributed operations between Lincoln, NE
and Denver, CO
Data center in Omaha, NE
Over 1 million Kofax Capture documents per month
KTM:
Over 500,000 documents per month
40 different forms defined
Automatically triggers correct BPM/workflow process
Over 160 million documents, processed by Kofax
Software, in our Filenet repository
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Kofax Software Size and Architecture
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Borrower Correspondence Arrives In Lincoln, NE Mailroom
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Mail Received in “Document Services” for Kofax Processing
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Extract Contents and Place on Conveyor for Scanning
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Borrower Documents Automatically Identified and Routed
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Mail Managed Electronically to Respond Effectively
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Kapow Software Selected by Nelnet
Selected Kapow Software due to trusted Kofax
relationship and Kapow Software functionality
Kapow Software is easy to use – operational
departments too
Less than a one-year ROI
Automated what was previously “out of bounds”
Integration with external websites
Integration with systems without APIs or IT
support
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Kapow Software For Exception Processing
Payment exceptions are identified by
“System of Record” and queued in
BPM/workflow system for processing
Research that was once done manually
is now completed automatically using Kapow “Robots”
Kapow application runs queries, finds borrowers and
then extracts check images, reports, and data associated
with borrower from banking lockbox website(s)
Significant time savings and better customer service!
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Kapow Software Payment Exception Demo
Greg Gentry - Nelnet
Other Planned Implementations of Kapow
Process borrower disputes on credit
bureau reporting
Gather physician licenses and data
maintained by each state to support disability claims
Extract and verify borrower demographic information
Employee on-boarding/off-boarding
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Questions?
Thank YouFor more information, please contact:
Please complete the session survey via the event App. Go to Agenda, select this session and click on Take Survey.
Mike Randash – [email protected]