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For Your Business May 21, 2024

Old National Bank Sustainability Starts with Recycling Technology and the New ‘Transformation Factory’

As technology advances, the issue of old technology disposal and electronic waste (e-waste) becomes increasingly pressing.

Old National’s partnership with PCs for People, which recycles used computers and technology, has resulted in donations of nearly 8,000 pieces of quality refurbished equipment to nonprofits within our footprint over the last decade.

The partnership benefits the environment by:

  • Reducing e-waste
  • Conserving resources
  • Contributing to energy efficiency
  • Promoting digital inclusion

This initiative emphasizes the importance of responsible resource management, and demonstrates how e-waste recycling can impact the environment and communities. The equipment donations that Old National made to PCs for People in 2023 equates to:

  • 46,679 pounds of e-waste saved from a landfill
  • More than 120,000 documents impacted by e-sign automation
  • 225 metric tons of carbon dioxide removed from the atmosphere
  • More than 19,000 work hours saved by automation technology
  • 48 passenger cars annual emissions saved = 25,291 gallons of gasoline conserved

The ONB Transformation Factory

In the first half of 2023, Old National debuted the Transformation Factory, enabling and accelerating continuous improvement of our service o­fferings through the implementation of cutting-edge digital solutions, streamlined workflows and innovative robotics process automation.

Enhancement examples in 2023 included:

  • Automated Valuation Model for Consumer Appraisals: Lowered the cost of appraisals from $525 to $76, and the turnaround time from eight business days to 24 hours.
  • Intelligent Automated Cash Ordering: Created a platform that provides insights on cash usage at banking centers and ATMs, and automatically orders cash to maintain needed levels.
  • E-signature Automated Processing: Reduced manual data entry via workflow-enabled processes and automation, providing efficient and easy access to clients.
  • Automated Document Collection: Removed manual work by automating data/image collection used for investigations

Transformation Factory savings resulted in more than 120,000 documents impacted by e-sign automation, more than 19,000 work hours saved by automation technology, and $1.1 million saved in 2023 by implementing automation.

For more information on Old National’s sustainability effort click here.

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