Reliance Bank automated reporting and routine analysis
with ElectroNeek

TLDR

Reliance Bank created ElectroNeek bots that saved loan officers 2500+ FTE hours annually and led to the elimination of open positions within the department.

Background

Reliance Bank’s mission statement emphasizes customer care. The bank’s wide range of customer offerings includes lending products and programs, deposit products, and online services such as mobile and online banking. 

The bank provides quality financial services, ease of product and service selection, convenient options using the latest technology, and secure transactions. 

Reliance Bank offices are located in eight locations in Altoona, Pennsylvania.

Challenges

Loan officers at Reliance Bank were spending up to two hours a day generating Encompass reports and analyzing competitors’ rates. The task required significant manual effort, causing lost productivity and inefficiency.

ElectroNeek bots saved Reliance Bank loan officers 2500+ FTE hours annually and triggered the elimination of open positions within the department

A custom bot automated report generation in Encompass by logging into the designated accounts in Encompass, generating a report, and uploading data into an Excel spreadsheet.

Next, the bot removed optional variables from the report, opened predetermined competitor websites, and searched for their pricing data. Once the data was found, the bot uploaded it to the pivot table.

Benefits of automation
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Increased mortgage loan processing capacity

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2500+ hours/year saved across the department

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Elimination of open positions in the department due to optimization of report generation and competitor analysis workload

The results and plans

The accuracy of Reliance Bank’s reporting was significantly improved. Upon the first month of implementing ElectroNeek bots, the bank management team was able to implement automation initiatives in new departments. Error-free and timely competitor analysis increased the bank’s overall efficiency and led to better-informed decision-making processes.

This product has a lot more features than what we had seen before. ElectroNeek can help to fill gaps and voids in every department by batching files, making copies and automating backups, etc.

Chris Barno, Assistant Vice President, Technology Team Leader at Reliance Bank

💼 Company
  • Reliance Bank
📒 Industry
  • Financial services
🌏 Headquarters
  • Pennsylvania, USA
🤖 Bots
  • Loan report generation
  • Competitive analysis
💡 Key Features
  • Web scraping
  • Browser automation
  • Software automation
🚀 Automated software
  • Web pages
  • Scraping Software
  • Encompass
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