HC3 Brings Asset Verification Automation to Community Banks and Credit Unions With AutoAVS

May 02, 2022 at 09:00 AM EDT

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HC3, a data-driven tech company that makes complex financial data practical, meaningful and attractive to consumers, has built AutoAVS to automate the time-consuming task of validating account data for Social Security Administration (SSA) and Medicaid benefits. Built based on customer feedback, the software receives and processes all e4641 asset verification requests within minutes without requiring manual input from staff.

HC3 expanded AutoAVS as part of its recent acquisition of AutoMail and DOC. The company built the platform based on feedback from bankers that they were struggling to keep up with hundreds of verification requests each month, resulting in hours of mundane manual work to keep up. AutoAVS eliminates the need to manually look up customer account info across all lines of business by automating the receipt of the e4641 request, pulling the data and reporting it back to the requesting organization.

“In today’s labor market it is hard to retain talent when they are tasked with time-consuming and laborious work,” said Jeremiah James, HC3’s chief product officer. “AutoAVS automates a process that traditionally has taken hours to complete. With this solution the project now takes minutes and enables the bank or credit union to focus their staff on high value assignments.”

AutoAVS supplements HC3’s existing communications platform which connects banks and credit unions to their users through statements. By outsourcing bank statements with HC3, financial institutions can provide a stronger customer experience with coordinating communications that are delivered via paper, digital and mobile channels.

About HC3

Headquartered in Birmingham, Ala., HC3 connects financial institutions to their customers. By outsourcing bank statements with HC3, financial institutions leverage document design, digital delivery, and print delivery. Through these solutions, banks and credit unions can make a statement that reflects their brand. For more information, call (877) 838-2345 or visit www.hc3.io.