Customer story: Spencer Savings Bank

Consolidated regulatory reporting for compliance

Banking & financial services

About Spencer Savings Bank

Spencer Savings Bank is one of New Jersey's strongest community banks, serving individuals and businesses for over 60 years with $3+ billion in assets.

With 20+ branches across New Jersey, they specialize in commercial real estate lending, SBA financing, and residential mortgages while maintaining personalized service.

Their commitment to exceptional customer service and community involvement has made them a trusted financial partner for 300+ employees and thousands of customers.

$3+ billion assets

60+ years established

20+ branch locations

Community focused

Website: https://spencersavings.com/

Headquarters: Elmwood Park, NJ

Adopted Comind.work in 2024

The challenge

Manual compliance processes created operational risks

Spencer Savings Bank's compliance teams were struggling with manual NPI data handling and regulatory reporting across multiple departments with no centralized tracking system.

Manual data aggregation from different systems, performing compliance checks, and generating regulatory reports was taking weeks and creating significant error risks.

The bank needed to meet strict regulatory deadlines while maintaining the highest standards of data privacy and security, but their existing processes couldn't scale effectively.

Manual data compilation

Weeks-long reporting cycles

Disconnected departments

High error rates

The solution

Automated workflows with bank-grade security

Comind.work implemented sophisticated data obfuscation and automated workflow capabilities specifically designed for banking compliance requirements and NPI data handling.

The platform created secure data exchange workflows with FTP integration and seamless connection to Spencer's existing Qlik BI reporting system for real-time visibility.

Starting with a pilot program for monthly NPI compliance reporting, the solution expanded to include all compliance workflows with automated reminders and recurring processes.

NPI data obfuscation

Advanced data masking and de-obfuscation capabilities ensure compliance while enabling proper BI reporting and analysis.

Automated workflows

Streamlined approval processes with complex business rules and automatic data collection from multiple departments.

BI system integration

Seamless connection to Qlik BI system with secure FTP data exchange for real-time reporting and dashboards.

Task management

Automated reminders, recurring workflow support, and comprehensive audit trails for regulatory requirements.

The results

Transformed compliance operations and eliminated bottlenecks

Spencer Savings Bank achieved dramatic improvements in compliance efficiency with automated workflows replacing manual spreadsheet management and eliminating human errors.

The compliance team gained real-time visibility into all processes while department managers could track exactly where each compliance check stood and when input was needed.

The success led to expansion across other banking operations including loan processing, customer onboarding, internal audit processes, and board reporting automation.

Key features that made the difference

Workflow automation

Automated data collection, compliance checks, and report generation replace manual processes across all departments with built-in approval workflows.

Impact:

Monthly compliance reporting time decreased dramatically while eliminating manual compilation errors by over 90%.

Data security

Bank-grade NPI data obfuscation and de-obfuscation capabilities ensure regulatory compliance while enabling comprehensive business intelligence.

Impact:

Maintained perfect regulatory compliance while enabling real-time analytics and reporting capabilities for management decision-making.

Real-time dashboards

Integrated reporting system provides instant visibility into compliance status, workflow progress, and departmental performance metrics.

Impact:

Management now receives real-time compliance dashboards instead of waiting weeks for status updates, with zero missed regulatory deadlines.

Comind.work transformed our compliance operations from a manual, error-prone process to a streamlined, automated system. The data security features and regulatory reporting capabilities are exactly what a community bank needs to stay compliant and competitive.

— Ralph Niedzialek

Senior Analytics & Solutions Manager, Spencer Savings Bank